Avaya Readies IPO for April

Avaya plans to hold its initial public offering in April, according to a report from Bloomberg news. The company declined to comment on the report.

The news has been expected since the company first filed an http://sec.gov/Archives/edgar/data/1418100/000119312511162019/ds1.htm S-1 form with the U.S. Securities and Exchange Commission (SEC) in June 2011, seeking to raise $1 billion. Avaya did not say how many shares it will make available or give a price range.

In the filing Avaya said, "We are executing on two critical strategic initiatives related to the transition of our product portfolio and the enhancement of our sales coverage model in order to continue to grow our business. Our product portfolio has been reshaped to drive revenue growth and business model cash cycle time. In addition, our portfolio of business collaboration and communications solutions is designed to deliver an intuitive and personalized user experience, seamlessly integrating various modes of communications and collaboration, including real-time voice, video, instant messaging and conferencing, and non real-time email, voicemail, and social networking."

Additionally Avaya said, "Over the past several years, we have invested significantly in research and development, introducing more than 60 new product offerings to the market since the beginning of fiscal year 2010. For example, we recently released our Avaya Flare Experience, a real-time, enterprise video communications and collaboration solution helping to break down the barriers commonly seen in today's communications and collaboration tools with a distinctive user interface for quick, easy access to voice and video, social media, presence, instant messaging, audio/video/web conferencing, a consolidated view of multiple directories and context history."