Jim Chirico, Avaya's CEO, is pictured here (right) re-listing the company on the
NYSE in January 2018
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Stand 112
COMMS NEWS
New buyers enter bidding war for Avaya
THERE HAS BEEN much speculation recently on a potential merger
between Avaya and Mitel but according to a Reuters report posted
on their website Avaya Holdings Corp is considering an all-cash offer
from private equity fi rm Clayton Dubilier & Rice LLC (CD&R) as an
alternative.
Avaya has been in talks with Mitel since the beginning of the year
about a deal that would value a combined entity at around $5billion
– higher than private equity fi rms have offered, but would require
Avaya shareholders to accept stock in the combined company.
Avaya’s debt pile of $3.2 billion and its challenging business
outlook have also made a leveraged buyout diffi cult for many private
equity fi rms.
Now Avaya is seeking to negotiate a sale to CD&R that would allow
all its shareholders to cash out and value it at a signifi cant premium
to where its shares are trading, even though the headline price would
be lower than a deal with Mitel, sources said.
Shares in Avaya jumped about 12 per cent on the news, the
company currently has a market capitalisation of $1.55 bn.
CD&R has been in talks about partnering on its bid with
RingCentral, a provider of enterprise cloud solutions, one of the
sources said, cautioning that there is no certainty of such a deal.
Avaya CEO James Chirico told investors on the company’s latest
quarterly earnings call on Aug. 13 that he expected the sale process
to conclude in the next 30 days.
01T targets international
connectivity opportunity
SPECIALIST NETWORK PROVIDER,
01T has announced the launch of
their new channel proposition to
support channel partners design,
build and manage high bandwidth
international connectivity.
The new channel proposition
includes both a reseller/ whitelabel
service incorporating
pre-sales technical design and
a referral agency agreement
for the channel to capture the
full potential of their partners’
expansion plans.
Simon Stokes, Commercial
Director, at 01T stated, “With
demand for low latency and
high bandwidth international
connectivity providing
opportunity in the channel,
competitive boundaries are
shifting. Channel partners need
support to match the need for
increasingly complex network
requirements. In search for
new opportunities and revenue
streams, international expansion,
is an emerging trend, and one
that 01T is uniquely placed
to deliver due to our unique
approach to network design and
fulfi llment.”
“We made an active decision
not to build the channel model for
mass API access and the result
is that we can provide each client
a custom built network, with
the highest level of redundancy,
guaranteed by a globally
standardised SLA.”
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