Avaya Enters Into Merger Agreement with Investment Firms

BASKING RIDGE, N.J. – Avaya entered into a definitive merger agreement with investment firms Silver Lake and TPG Capital for approximately $8.2 billion.

"In addition to delivering compelling value for our shareholders, the partnership with Silver Lake and TPG also creates clear value for Avaya employees and customers," said Louis J. D'Ambrosio, president and CEO, Avaya. "The investment in our people and technology and the operating structure will enable us to extend our technology and services leadership and continue to deliver the gold standard of communication solutions in the industry."

The transaction is expected to be completed in the fall.