Investment Firm Nets Avaya for $8.2 Billion

Looks like it’s a go.

 

Avaya is announcing on their Web site that they have entered into a definitive merger agreement with Silver Lake, an investment firm focused on large-scale investments in technology-driven growth industries, and TPG Capital, a private investment partnership, for approximately $8.2 billion or $17.50 per common share.

 

The release quotes Phil Odeen, non-executive chairman of Avaya’s board of directors:

 

“After an extensive review of Avaya’s strategic alternatives with Avaya management and our financial advisors, the board of directors of Avaya determined that this transaction with Silver Lake and TPG provides the best value for Avaya’s shareholders.”