Avaya Said to File for Public Offering to Raise About $1 Billion

Tuesday, 07 Jun 2011 01:39 PM

 

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Avaya Inc., the phone-equipment maker owned by private-equity firms Silver Lake and TPG Capital, may file for an initial public offering that would seek to raise about $1 billion, according to a person with direct knowledge of the matter.

The company may file as early as this week, said the person, who declined to be identified because the plans aren’t public. The Basking Ridge, New Jersey-based company, spun off from Lucent Technologies Inc in 2000, was taken private in 2007.

Avaya, which sells phones and related equipment to corporate clients, boosted sales 22 percent in the fiscal year ending in September, according to regulatory filings. The company bought Nortel Networks Corp.’s enterprise- telecommunications unit for $915 million in 2009, gaining more corporate phone equipment.

Skip MacAskill, a spokesman for Avaya, didn’t return a phone call requesting comment.

The Wall Street Journal reported Avaya’s IPO plans earlier.

© Copyright 2014 Bloomberg News. All rights reserved.

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