Avaya Completes Privatization

Silver Lake and TPG Capital have completed their acquisition of Avaya in a transaction valued at approximately $8.3 billion. Under the deal, Avaya stockholders are entitled to receive $17.50 in cash, without interest and less any applicable withholding taxes, for each share of common stock they owned immediately prior to the effective time of the merger. Avaya common stock ceased trading on the NYSE before the commencement of trading on October 26, 2007 and will be delisted from the NYSE.

http://www.avaya.com

• Earlier this month, in its last filing as a public company, Avaya said its Q4 2007 revenues increased 4.8 percent to $1.429 billion compared to $1.364 billion in the same period last year. Net income was $35 million and earnings per share of 8 cents for the fourth fiscal quarter of 2007 on a GAAP basis.
• In October 2000, Avaya was spun off from Lucent Technologies and began trading on the New York Stock Exchange under the symbol AV.
• Avaya is headed by Louis J. D’Ambrosio, who previously was SVP and President, Global Sales and Marketing at Avaya. Before that, D’Ambrosio spent 16 years at IBM in senior leadership roles across IBM Global Services, Software, and Sales and Marketing.
• Silver Lake’s investment portfolio includes, or has included, Ameritrade, Avago, Business Objects, Flextronics, Gartner, Instinet, IPC Systems, MCI, NASDAQ, Network General, NXP, Sabre Holdings, Seagate Technology, Serena Software, SunGard Data Systems, Thomson and UGS.