Avaya Auction: Who’s Looking to Bid?
UC this week brought you news at the end of March that Avaya may well have been considering a leveraged buyout from an unknown private equity firm. The plot has now thickened with various sources intimating that an auction process may be underway or imminent.
Speculation has been fuelled by apparent buoyancy in the Avaya stock price on the NYSE with shares rising by several percentage points from their value at the start of this week. As we reported previously the potential value of Avaya far exceeds its stock market value, of around $2 billion, with estimates of around a $4-5 billion total acquisition value including the several billion dollars of company debt that was last reported at the end of 2018.
The situation has developed as it appears there are several, highly capable, interested parties who have made discreet enquires to major shareholders. Although unconfirmed, various reports have named private equity firms Permira Holdings, Searchlight Capital Partners and Apollo Global Management LLC. Some of the potential suitors already represent knowledge and have a vested interest in the global communications market. Searchlight Capital Partners acquired, Avaya rival, Mitel this time twelve months ago and Permira Holdings own contact centre solution specialist Genesys. Were either of the aforementioned parties to successfully acquire Avaya, in addition to their existing portfolios, speculation would undoubtedly continue with the possibilities of mergers or consolidations of the businesses. Apollo Global Management LLC also have their own interest as they own West Corp, the technology-enablement company who specialise in unified communication and collaboration services.
The exact logistics in terms of the potential upcoming auction process is still unknown. Market news giant Bloomberg first reported that Avaya was working in conjunction with an investment bank to assist with the auction process after receiving enquires from private-equity firms and, potentially, other parties in addition. Interested parties are likely to be contacted and consulted to provide concrete offers for Avaya, whether this forms part of blind or open auction process may never be revealed. The timeline for this process is yet to be determined but firm bids are expected to be lodged over the coming weeks.
The news of the leveraged buyout offer from March and now the potential auction follows an uncertain financial period for Avaya. After successfully surviving the Chapter 11 process at the end of 2017 the future seemed bright, but financials released since then have painted a different picture. The company has made a conscious and public effort to transition its business model from that of traditional hardware vendor to a more software and services orientated company. A transition such as this is never an easy process, which appeared to be part of the reasons that Mitel made a move back to private ownership in 2018. Despite quarterly revenues rising, Avaya’s revenue figures from Q1 2019 were down in comparison to the same period in 2018. These figures apparently have not appeared to match Wall Street’s forecasts.
Despite the apparent financial difficulties it does appear that Avaya’s shifting strategy is working, albeit more slowly than expected. Contract, software and services revenue increased recently and the widespread interest in the apparent auction process and Avaya’s stock can only be encouraging for shareholders, partners and customers.
UC Today have approached Avaya, and some of the suspected bidders, for comment but are yet to receive an official response.
Industry: Unified Communication news
- Sailpoint IIQ Consultant
- Up to £75,000
SailPoint IIQ consultant- London We are looking for a strong SailPoint IIQ consultant to work for this global enterprise, in this position you will be the lead consultant in regard to the IAM and PAM tools Duties include Responsible for designing, developing, testing, implementing, and integrating IAM (SailPoint) systems and solutions. Assessing requirements for Identity and Access Management solutions to meet stakeholders needs. Provide support for production IAM infrastructure systems and processes. Ensures the maintenance, patching, operating, and monitoring of IAM systems. Ensures senior management and staff are informed of any changes and updates in a timely manner. Experience with Maintaining and supporting SailPoint IIQ Assessing requirements for Privilege Access Management solutions to meet stakeholders needs We are looking for someone with the following experience SailPoint IIQ experience Expertise working with SailPoint Identity IQ platform - Access Lifecycle Management, Certifications, Role Management Expertise in onboarding applications with various connectors like Active Directory, JDBC, SCIM 2.0, Azure Active Directory Expertise in developing APIs (SCIM, REST) leveraging Java based developmentExperience of Privileged Access Management concepts and use cases Unfortunatly we are unable to provide sponsorship for this opportunity, therefore applications will need to be able to work in the UK
- SailPoint Consultant- Netherland-
- upto €700 per day
We are looking for a highly skilled SailPoint IIQ Consultant to work on a major deployment project. The ideal candidate will have experience with all aspects of SailPoint IIQ, including development, configuration, and administration. They will also be able to work independently and as part of a team to deliver high-quality results. · Responsibilities · Develop and configure Sailpoint IIQ solutions · Integrate SailPoint IIQ with other systems · Support SailPoint IIQ deployments · Provide technical support to users If you are a highly skilled SailPoint IIQ consultant who is looking for their next project, we encourage you to apply. look forward to hearing from you!
- Lead CyberArk deployment Consultant
- Upto £80,000 plus benefits
CyberArk Consultant is needed to be responsible for leading the deployment of CyberArk solutions for this expanding IT services business, You will work with customer both pre and post sales, getting involved in CyberArk Solution Design, helping to create CyberArk Strategic Roadmaps, on-boarding accounts, product and process integration into the CyberArk Solution and Proviso of Installation and technical Documentation. We are looking for this individual to have experience in: Installation of CyberArk PAS for V11.X and V12.X (Vault, DR Vault, Central Policy Manager and Password Vault Web Access) Upgrade of CyberArk from V9 and V10 (Vault, DR Vault, Central Policy Manager and Password Vault Web Access) Installation and Upgrade of Privilege Session Manager and Privilege Session Manager Proxy As some of your client will be government site, all individual will need to be put through SC clearance, therefore you must be eligible to receive this and happy to be put through(With a British Citizen or to have lived in the UK for the past 5 years) We are unable to provide work visa sponsorship for this opportunity
- Senior Business Analyst - Outside IR35 Contract, SC Clearance Required, London
- £400 per day outside IR35
Senior Business Analyst - Outside IR35 Contract, SC Clearance Required, Based in London Project- to engage with colleagues and stakeholders to investigate and model business functions, processes, information flows and data structures, using a range of business analysis techniques. • You will translate the solution to the business problem into detailed requirements by creating user stories and well-defined acceptance criteria. • Elicit end-to-end business requirements for a live cross-government service • Working across the Government departments to bring together varied business and operational outcomes to form a holistic overall set of service requirements Current SC clearance is required. As is the ability to travel to London.