Avaya said that the takeover talks it hoped would be completed by mid-September are still ongoing and that it remains in advanced discussions. Reports in March said the company was considering a leveraged buy-out offer form a private equity firm. The company later confirmed it was it was considering takeover offers and that these would be completed soon.
Avaya said it was working “expeditiously” to conclude its comprehensive review but that it could not assure when or even if any action would be taking place. The company said it will provide more information only when it feels this becomes necessary.
Bloomberg reportedly separately that the company is considering a joint venture with Ringcentral rather than a full sale of the group. Avaya also held talks with private equity group Searchlight and rival Mitel about a possible reverse merger, according to the news agency's sources.
