Avaya to be sold for $8.2 billion
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Network equipment manufacturer Avaya Inc. late Monday agreed to a $8.2 billion cash buyout by private equity firms TPG Capital LLP and Silver Lake Partners, the companies announced.
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(InfoWorld) - Network equipment manufacturer Avaya Inc. late Monday agreed to a $8.2 billion cash buyout by private equity firms TPG Capital LLP and Silver Lake Partners, the companies announced. This latest acquisition continues a recent trend of networking and telecommunications firms being bought by private equity firms. In late May, TPG and Goldman Sachs Group Inc.'s private equity arm bought mobile service provider Alltel Corp. for $27.5 billion. Bell Canada Ltd. remains a takeover target of a potential bid by Cerberus Capital Management LP. The Basking Ridge, New Jersey company's board of directors have accepted a $17.50 per share offer, which must still be approved by Avaya shareholders. The offer places a premium of around 28 percent on the firm's value over Avaya's May 25 closing price of $13.67, the last day beforeÂ rumors begun to circulateÂ that the company would likely be acquired. The deal is expected to close in the fall of this year, the companies said. The agreement allows Avaya to actively encourage bids for the company from other third parties over the next 50 days. Avaya's relatively high cash flow and low debt made it a target to go private. Along with TPG and Silver Lake, Nortel Networks Corp. was also pursuing the former AT&T telecom equipment maker. Â
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US phone company SBC  Communications agrees to buy its former parent AT&T for about $16bn (Â£8.5bn).
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Telecom manufacturer Avaya has been targeted for a buyout by a private equity firm and rival Nortel.
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U.S. telecommunications equipment maker Avaya Inc. increased its presence in Europe to the tune of about $635 million on Tuesday, agreeing to acquire German enterprise communications vendor Tenovis GmbH & Co. KG.
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Avaya, a telecommunications equipment supplier, on Tuesday said it would buy Tenovis of Germany from private equity firm Kohlberg Kravis Roberts for $370 million in cash to expand its presence in Europe.
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The U.S. sale of airwaves for   advanced wireless services grossed a record $13.9 billion when   it ended on Monday, and spectrum-hungry wireless carrier   T-Mobile USA, Verizon Wireless and a group of cable companies   were the highest bidders.
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G.E. said it agreed to sell its advanced materials business for about $3.8 billion and use the income to expand its industrial division.
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The IP wars continue this week with Avaya, now a privately held rather than public company, announcing Avaya Communications Manager 5.0 and new customer service solutions, including a SIP-enabled handset for CSRs (customer service representatives). Communications Manager 5.0 is a full, rather than a point, upgrade to Avaya's main telephony and communications platform. The new version takes the technology from IP to SIP and adds a number of new capabilities.
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(InfoWorld) - Avaya said on Thursday that it will develop communications solutions for small business that combine Google's updated Apps Premier Edition suite of Web applications with its own IP telephony technology. Avaya plans to link its IP Office product to Google Apps Premiere Edition. The combined solutions, which Avaya will sell through its network of resellers and distributors, are expected to be available by the end of the year, the company said in a statement. Google Apps Premier is a new, premium version of Google Apps for Your Domain that Google unveiled Thursday. The software, which costs $50 per user per year, includes word processing and spreadsheet applications, calendar, e-mail, instant messaging, as well as guaranteed uptime, IT management tools, and technical support. The new product is similar to earlier iterations of Google Apps for the consumer and education space, but is targeted at small businesses that need low-cost office software. The product is widely seen as a challenger to Microsoft's Office, which includes Microsoft Word, Excel, Outlook, and PowerPoint, and which has long been the dominant productivity suite in the enterprise. Avaya plans to add tight integration of its VoIP technology with platforms like Google Talk and to offer subscribers a single in-box for voice, e-mail, IM, and faxes. The company also envisions features to enable subscribers to share contacts, alerts, and online status (or "presence") information, Avaya said. The new products might allow a manager with a distributed, mobile workforce to quickly determine who is online and offline, or a company with manufacturing facilities in China to use Google Talk for long distance calls, but also use dedicated voice and data from Avaya for customer contacts, the company said. Avaya is currently working with Google, using APIs for Google Apps Premier to build the functionality. It expects to deliver an integrated solution in 2007.
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Australia's APN News and Media   on Monday agreed to a revised A$2.8 billion ($2.2 billion)  offer from a consortium including Tony O'Reilly's Independent  News and Media Plc. .
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LOS ANGELES: A group headed by Sony Corp of America on Monday agreed to buy Hollywood film studio Metro-Goldwyn-Mayer for about US$2.
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ECI Telecom, an Israeli maker of telecommunications equipment, agreed to be bought by the Swarth Group and the Ashmore Group for $1.2 billion.
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(InfoWorld) - Avaya may become the next major technology firm purchased by private equity, a report Tuesday indicated. The Basking Ridge, New Jersey telecommunications gear maker's relatively high cash flow and low debt have made it a target of private equity firm Silver Lake and rival networking company Nortel Networks, the Wall Street Journal said Tuesday, citing anonymous sources. The company, which has a market capitalization of $6.18 billion, may be open to a partial or complete buyout, the report said. Along with a healthy balance sheet, the company also has a wealth of patents, some leftover from its days as the telecom equipment arm of AT&T.
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Avaya Inc.  said on Monday it  agreed to be acquired by private equity firms TPG Capital and  Silver Lake for $8.2 billion, the latest in a string of deals  in the telecommunications-equipment industry.
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The U.S. sale of airwaves for  advanced wireless services grossed a record $13.9 billion when  it ended on Monday, and spectrum-hungry wireless carrier  T-Mobile USA, Verizon Wireless and a group of cable companies  were the highest bidders.
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BASKING RIDGE, N.J.  - Communications network provider Avaya Inc. will buy Tenovis GmbH &amp; Co. KG, a German communications systems business, in a &#36;370-million-US cash deal that will increase Avaya's presence in Europe.