Avaya disclosed on August 13 that it was evaluating strategic alternatives for the company. At the time, the company said it expected to make a decision on the process within 30 days. Fast forward to present-day, and that self-described Avaya deadline is this business week.
https://www.channele2e.com/investors/avaya-buyout-decision-this-week/
The CEO of Avaya raffled off UNC / Duke basketball tickets, then made the employee pay for them. Thousands of employees lost their jobs and he is trying to make a buck on his seats?
The stock has dropped 50% in the last year.
Got news for you. The retirement plan has already folded.
When I left Avaya in 2002 I could tell that management was still living in the past. The Nortel merger was a big mistake. Two bad management teams don't make a good management team. Silver Lake is the worst venture capital management organization that I have seen. A bunch of rookies. I am glad I took the one time payout of $70k for fourteen years of employment. That $70k is now $480K. The AT&T/Avaya retirement plan is under funded and will fold if congress does not come up with a solution.
Christmas Presents??
Big layoffs coming
This deal undercuts Avaya's independent channel. Avaya senior management never understood the channel is the key to its success. For every Avaya employee there are ten Avaya channel champions and this deal cuts the legs out from under them. This is a terrible deal and another nail in the coffin of a once proud and historic company.
Gotta love the Avaya employee trolls on this site;)
I am curious how Avaya's resellers feel about Avaya selling the lists of their IP Office customers to Ring Central. Seems like they may be Avaya's sacrificial lambs in this deal?
Stock up 25% in 1st hr of trading.
Ring Central buying a minority interest in Avaya for 500 million for a stake along with access to its partners and customer base. Not smart of Avaya. Avaya revenues will continue to shrink and Ring will end up taking its complete customer base and partners for peanuts.
Did they forget to consult with the geniuses that post here?...smh
So RC give up some stock to get the customer contacts? Avaya then sells RC cloud, and gets a SPIFF? Noice!!
So after all of that, Avaya decides the right path forward is to sell someone else’s product and brand it as their own?
Smh
Partnership with Ringcentral announced.
Any news
Its clear, Avaya is no more for sale..
Bring back Nortel and the good ol' days.
Bacon & Eggs....
Silence before starting storm
Deal is final on Monday ??
Wait is over...
Any new update......i heard no more sale offers
Yea its all smoke & mirrors...
"Global data center construction is undergoing a boom as the leading cloud and colocation providers add an estimated 14 million square feet of capacity in 2019.
IHS Market is currently tracking 135 new data center building and expansion projects that are expected to open this year. These efforts are expected to add 14 million square feet of capacity in 2019. Another 4.5 million square feet has already been announced for the first half of 2020."
Is it coincidence IBM cut a deal with Nortel before its bankruptcy. Deja'vu all over.
Well, another swing and a miss. Did JPM sell all those calls expiring this week?? Company better announce buyout before lawsuits start stacking up. IBM deal the final trigger ?
For you?
No one is going to buy Avaya. There is no future.
President of Avaya services , Edward Nalbandian has been on Medical leave all of 2019, never a factor in Avaya, less the a year on job
Looks like a buyout is imminent as the new SEC filing on 16 Sept 2019 shows the President of Avaya services , Edward Nalbandian is stepping down. This is usually a sign of the company being bought out as new management takes over. Would be great if all of this interest raised the $16.50 previous cash buyout offer. Deal to be announced this week.
Whew! A CD&R buyout will save a lot more jobs than a Mitel led disintegration. Look at how none of Mitel's dance partners come out in good shape. Mitel is more interested in removing competitors by acquiring them and destroying then than building products.
CEO has lost all credibility. Stated there would be a path for award within 30 days then screwed new shareholders. Only way to win is to announce all cash buyout this week. $16.50 is the private equity bid. Looks like they are trying to use that as the baseline for other negotiations. Maybe CEO is a fox and the deal is about ready to close. My bet is the shorts put out the new intel and the cash buyout is on the table and now could be anytime.
Bad decision by Ring Central to partner in any way with Avaya. Avaya's does not own its customers, partners support them. Open season.
"Avaya Holdings Corp. is in talks to form a joint venture with videoconferencing provider RingCentral Inc. and is leaning toward abandoning plans for a full sale of the company, people familiar with the matter said."
Avaya is a diminished brand, financials are horrible and getting worse, revenue is shrinking year after year and it has little to no negotiating leverage with Mitel or any other suitor. Avaya management needs to understand these facts and negotiate a deal as quickly as possible for the sake of its employees.
Unbelievable announcement today. Company is doomed.
There is no deal, no sale.
Avaya confirmed today that its review of a range of strategic alternatives is ongoing and it remains in advanced discussions. Avaya’s board of directors and management, supported by its legal and financial advisors, are working expeditiously to conclude the deliberate and comprehensive review. There can be no assurances regarding the timing of any action or transaction nor that the strategic review process will result in any particular outcome. The Company does not intend to provide additional updates unless or until it determines that further disclosure is necessary.
And the winner is ???
CD&R confirmed
Either no deal or CDR private equity will take over.