UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 18, 2002
Date of Report
(Date of earliest event reported)
RADVISION LTD.
(Exact name of registrant as specified in its charter)
Israel 000-29871__ N/A
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(State or other jurisdiction (Commission (IRS Employer Identification No.)
of incorporation) File Number)
24 Raoul Wallenberg Street, Tel Aviv 69719, Israel
(Address of principal executive offices and zip code)
011-972-3-645-5220
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
ITEM 5. Other Events.
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Corporate Contacts: Investor Contacts:
David Seligman Peter Benedict Jody Burfening/Kathy Price
Chief Financial Officer Dir. Media and Investor Relations Lippert/Heilshorn
RADVISION RADVISION & Associates
Tel: 201.689-6333 Tel: 201.689-6311 Tel: 212.838.3777
cfo@radvision.com pr@radvision.com jbs@lhai.com
BROADBAND SERVICE PROVIDER CHOOSES RADVISION TO POWER CONSUMER DEPLOYMENT OF
MANAGED IP-BASED VIDEO TELEPHONY
Italy's FastWeb to Offer SOHO and Residential
Video Telephony Services Using RADVISION Technology
Glen Rock, New Jersey, November 18, 2002 -- RADVISION Inc. (NASDAQ: RVSN) today
announced the sale and successful roll out of an integrated videoconferencing
solution to FastWeb, a Milan-based service provider who provides bundled
broadband voice, video, and data services to consumers and businesses throughout
Italy.
The initial agreement, signed in the first quarter of 2002, called for the
purchase and installation of videoconferencing infrastructure equipment to
support a mass deployment of video telephony infrastructure across Italy. A
substantial portion of the contract has already been fulfilled, with the
remainder of the product to be delivered to FastWeb and rolled out to the field
by the end of the year. Having gone live on October 15, 2002, FastWeb is now
providing video telephony services in many key cities throughout Italy, with
plans to expand the service throughout the country over the next year.
The end-to-end videoconferencing solution provided by RADVISION will enable
FastWeb to offer point-to-point and multipoint video telephony services to its
business and residential customers. This service, with its goal of providing
video communication with the same ease of use, cost and reliability as
traditional phone service, compliments FastWeb's existing offerings of
integrated Internet access, telephony (VoIP), cable television and
video-on-demand services delivered through a single fiber optic broadband
connection to the home or business.
"This deployment is a testament both to the huge potential of IP-based video
telephony in a managed service environment and to RADVISION's strong progress in
breaking into this new market and executing on our goal of closing three to four
major deals in 2002," said Gadi Tamari, CEO of RADVISION.
"In delivering integrated voice, video, and data services through a single fiber
optic IP broadband connection, FastWeb has established itself as one of the most
advanced service providers in the world today," Tamari adds. "Adding video
telephony to this mix is the natural evolution of FastWeb's offerings and is a
business and technology model that we see spreading to other service providers,
both in Europe and worldwide."
"Naturally when choosing a videoconferencing solution partner we looked for a
vendor that shared our vision of converged multimedia delivery over IP," said
Ruggero Gramatica, FastWeb's Chief Information Officer. "RADVISION, with its
leadership in rich meetings, videoconferencing, and its pioneering work in voice
over IP, was our natural choice and we look forward to growing with them as we
continue to develop and offer additional value added services to our rapidly
expanding customer base."
Based on the award-winning viaIP 400 platform, the RADVISION solution features
an IP-based video switching matrix and IP-based call control, enabling the
system to seamlessly integrate into FastWeb's existing IP network
infrastructure. Additionally, because the RADVISION technology interworks with
other protocols such as ISDN, FastWeb customers will be able to use the
RADVISION-powered solution for industry-grade point-to-point and multiparty
video telephony and videoconferencing sessions with any other user or session,
regardless of the other end points' manufacturers or technology platform.
The RADVISION end-to-end solution also features centralized network management,
scalable multiparty video call capability, easy-to-use dialing schemes, and
other custom features developed specifically for customer ease of use and
centralized administration by the service provider.
About FastWeb Founded in 1999, FastWeb is controlled 64.4% by e.Biscom (Milan's
Nuovo Mercato: EBI) and 30.8% by the municipal Milan multi-utility AEM. FastWeb
is the first operator in Italy to provide broadband direct access, using
Internet Protocol (IP) technology to deliver integrated telecommunications
services to business and residential customers. The use of IP over a fiber
network gives FastWeb worldwide technical leadership in offering advanced
broadband services such as Bandwidth on Demand, Virtual Private Network and high
quality, fully-interactive Video on Demand. FastWeb currently operates with more
than 1000 employees in Milan, Bologna, Genoa, Turin, Naples and Rome. For more
information visit www.fastweb.it and www.ebiscom.it.
About RADVISION
RADVISION (Nasdaq: RVSN) is the industry's leading provider of high quality,
scalable and easy-to-use products and technologies for videoconferencing, video
telephony, and the development of converged voice, video and data over IP and 3G
networks. RADVISION has two distinct business units. RADVISION's Networking
Business Unit (NBU) offers one of the broadest and most complete set of
videoconferencing network solutions for IP- and ISDN-based networks, supporting
all end points in the industry. The company also provide businesses and service
providers with integrated solutions that deliver converged IP-based video
telephony applications to employee computer desktops and residential broadband
homes worldwide. The Company's Technology Business Unit (TBU) provides protocol
development tools and platforms, enabling equipment vendors and service
providers to develop and deploy new converged networks, services, and
technologies. For more information please visit our website at
www.radvision.com.
This press release contains forward-looking statements that are subject to risks
and uncertainties. Factors that could cause actual results to differ materially
from these forward-looking statements include, but are not limited to, general
business conditions in the industry, changes in demand for products, the timing
and amount or cancellation of orders and other risks detailed from time to time
in RADVISION's filings with the Securities Exchange Commission, including
RADVISION's Form 10-K Annual Report. These documents contain and identify other
important factors that could cause actual results to differ materially from
those contained in our projections or forward-looking statements. Stockholders
and other readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on which they are
made. We undertake no obligation to update publicly or revise any
forward-looking statement.
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viaIP is a service mark of RADVISION Ltd. All other trade names and trademarks
appearing herein are owned by their respective holders.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 18, 2002 RADVISION LTD.
(Registrant)
By: /s/David Seligman
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David Seligman
Chief Financial Officer