Is Avaya Inc up for grabs?

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CNBC-TV18 has learnt that Avaya Global may have an open offer coming its way. Its parent company Avaya Inc is on the block and is in talk with various private equity players.

 

Reports suggest that Avaya Inc is in talks to sell all or part of the company to a PE firm or other bidders. It is also suggested that they had discussions with Silver Lake Partners and Nortel Networks .

 

Analysts state that the buyer would gain a foothold in internet-based telephone systems .

 

Avaya GlobalConnect provides communication systems, applications and services and is involved in the field of internet telephony. Avaya Inc currently holds 59.13% stake and it could lead to an open offer if the parent company is acquired.

 

Avaya GlobalConnect was previously known as Tata Telecom. The Tata Group sold out its 25.1% shareholding to Avaya in 2004. Due to this, Avaya's holding increased from 25.5% to 50.6%. Avaya made a public offer to purchase 20% and  acquired 8.53% from public. The name of the company was changed in October 2004 to Avaya GlobalConnect.

 

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