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Avaya Soliciting Bids to Sell Company PDF Print E-mail
Wednesday, 17 April 2019 11:49


Avaya Holdings Corp. is preparing to run a sale process for the company following unsolicited interest from potential buyers, according to people with knowledge of the matter.

Santa Clara, California-based Avaya is working with an investment bank to run an auction after receiving inquiries from private equity and other firms, said the people, who asked not to be identified because they weren’t authorized to speak publicly.

Potential bidders are understood to include private equity firms Apollo Global Management LLC, Permira Holdings and Searchlight Capital Partners, the people said. Bids are expected at the end of April and the firms may look to make joint offers, the people said.

An Avaya spokesman said the company didn’t comment on rumors or speculation. A representative for Permira didn’t respond to a request for comment. Representatives for Apollo and Searchlight declined to comment.