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Avaya Acquisition A Done Deal |
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Written by Adam Gosling
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Monday, 29 October 2007 |
Claiming it as a new era for the company, IP Telephony vendor Avaya
is now a private company following the finalisation of a private equity
purchase for a healthy US$8.3 billion.
It's far from the current US$15 billion valuations making headlines
for Facebook, but its quite a bit more than the private equity buyout
of 3Com which priced the company at US$2.2 billion in cash. Avaya
shareholders will receive US$17.50 in cash for each ordinary share asSilver
Lake and TPG Capital completed their acquisition of booming IP Telephony firm.
In what might be the last fiscal results we see from the company, Avaya announced two weeks ago that is Q4
revenues were US$1.429 billion. Reportedly the best for six years
thanks in part to a lover US dollar resulting in improved revenues from
International businesses.
Avaya common stock ceased trading on the NYSE before
the commencement of trading on October 26, 2007 and will be delisted from the
NYSE.
"Today
marks the beginning of an exciting new era for Avaya," said Lou D'Ambrosio,
president and CEO, Avaya. "As a
private company, working with Silver Lake and TPG, we have an unprecedented
opportunity to accelerate our strategy, act boldly in the marketplace, and serve
our customers with even greater innovation and
responsiveness."
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