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Avaya Acquisition Complete
Silver Lake and TPG Capital Complete Acquisition of Avaya
Avaya, Silver Lake and TPG Capital have
announced that Silver Lake and TPG Capital have completed the acquisition of
Avaya in a transaction valued at approximately $8.3 billion. The deal concluded
last Friday. “
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.”
Under the terms of the merger agreement, which was adopted by Avaya’s
stockholders at a special meeting held on September 28, 2007, 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. Stockholders of record as of
the effective time of the merger who have stock certificates will receive a
letter of transmittal and instructions on how to surrender their shares of
Avaya common stock to receive the merger consideration. These certificated
stockholders of record should wait to receive the letter of transmittal before
surrendering their shares.
Stockholders of record as of the effective time of the merger whose shares are
uncertificated and stockholders who hold shares through a bank or broker do not
need to take any action for their shares to be converted into cash because the
conversion will be handled automatically by Avaya’s transfer agent or their
bank or broker, respectively.
Cheaper Call Charges
Many continue to pay significantly over the odds for their outbound phone calls because the annual cost of the telephone.
Video Conferencing
In this ever demanding world, video conferencing is becoming more popular and is now being used as an integral business tool.
Telephone Systems
Comms Management has forged a strong partnership with Avaya and we are proud to be an accredited Avaya...
