Avaya confirms potential of takeover or management buyout
Avaya has confirmed it is considering a takeover and management buyout after results "fell short of expectations".
The news comes just weeks after rumours emerged that competitor Mitel was preparing a bid, while reports of a private equity-backed deal surfaced before that.
Avaya generated revenue of $709m (£547.7m) in its Q2, which ended on 31 March 2019, up five per cent year on year.
However, it was down four per cent on Q1's figure, which was enough to trigger talks of selling.
The comms player has hired JP Morgan to "explore strategic alternatives" in order to maximise shareholder value.
"The board has not set a timetable for the process, nor has it made any decisions related to any strategic alternatives at this time," Jim Chirico, Avaya CEO, told investors on an earnings call.
"There can be no assurance that the exploration of strategic alternatives will result in any particular outcome. The company does not intend to provide updates unless or until it determines that further disclosure is necessary."
He placed some of the blame for the revenue shortfall on Reuters, which ran a story in March speculating about a buyout.
"This created uncertainty among our customers and partners and led to a noticeable change in buying behaviour," Chirico said.
"We have implemented a customer outreach and communications plan that emphasises our innovation, strength and market leadership to help address the situation.
"But bottom line, the timing of the speculation, while difficult to pinpoint a quantitative impact, clearly had an effect."
He attributed the revenue shortfall in Q2 to missing a deadline with a new partner offering in the contact centre space and expects it to resolve itself in the current quarter.
Another factor at play was the "operational execution issues" associated with the distribution of its new J Series desk phones among channel partners, where instead of supplying the demand for the product, it flooded the channel with an older series model.
The CEO told investors that it would take until early Q4 for this situation to be resolved.
"Our top-line results and earnings fell short of expectations," he stated.
"In response, we have implemented a number of corrective actions to drive improved performance.
"While I'm disappointed in our results last quarter, overall, I remain confident about our path forward given the momentum and traction we are seeing in many segments of our business including cloud, services and emerging technologies."
Source: channelweb
Industry: Unified communication news
Latest Jobs
-
- Senior SOC Analyst. Level 3 Palo Alto Wildfire, Rapid 7, Fortify, Splunk.
- Unknown
- 55000
-
REF CH7840 Senior SOC analyst (Palo Alto Wildfire, Rapid 7, Fortify AND Splunk) Flexible location £55,000 + Senior SOC analyst needed (Level 3) that can achieve SC clearance for a permanent role. We are looking for Level 3 SOC Analysts with two or more of the following; Palo Alto Networks Wildfire (#malware) Rapid7 Micro Focus fortify (#automated #applicationsecurity) AND ideally Splunk. The role will include, but not be limited to; managing and handling incidents end to end, supporting and mentoring level 1 / level 2 staff, supporting the SOC manager in the delivery of the SOC roadmap, engaging with the client stakeholders (other technical teams) as and where needed, use case development, advanced search and reporting etc. Flexible location, commutable in the future to London or Birmingham This role will sit within a public sector client so the individual must be able to achieve SC clearance. To arrange a call with Chris Holt use this calendy link https://calendly.com/chris-holt/arranged-call-with-chris-holt-remote-soc-role Chris.Holt@dclsearch.com 07884666351
-
- Identity & Access Management (IdAM) Consultant
- Germany
- Upto €100,000 plus bonus and benefits
-
An Identity & Access Management Consultant is needed to lead and drive technical and or business transformation projects in a client-facing position for a prestigious consultancy in Germany. The Identity & Access Management Consultant will be responsible for technical design and implementation of Identity & Access Management/IAM products within a wide variety of clients. The Identity & Access Management Consultant will have a blend of technical hands-on and client-facing consultancy with the ability to develop new business. Broad technical knowledge across Identity and access management is benefical. The Identity & Access Management Consultant will need to have technical hands-on experience with one or more of the following core areas; Privileged Access Management (PAM, CyberArk, Beyondtrust, Thycotic) Identity Governance Administration (IGA, Sailpoint, Omada, RSA) Customer Identity & Access Management (CIAM, Forgerock PSD2) The Identity & Access Management Consultant must have the willingness to travel to customer sites across Germany.
-
- PCI DSS Security Specialist, Level 1 Service Provider,
- Unknown
- 75000
-
CH7827 Payment Card Industry DSS Security Specialist, Level 1 Service Provider End User. £75,000 Flexible location, ocassional travel to London- Covid permitting Payment Card Industry DSS Security specialist needed to join a Security team to work with a highly respected CISO within a Level 1 Payment Service Provider. The PCI- DSS Security Consultant will have end to end responsibility for PCI - DSS and its continuing certification. 2021 / 2022 plan is to transition PCI to the cloud. Experience must include a focus into the Payment Card Industry. A mix of Information Security standards, frameworks, audit principles, controls / policies and the management and use of the technical tooling to achieve compliance is essential. PCI objectives / 12 key requirements, OWASP top 10, ISO 27001, NIST Cybersecurity Framework etc An ideal candidate will be working within an end user environment with a cyber consultancy background. PCI Cloud compliance, specifically someone with experience taking PCI-DSS from on premise into the cloud is HIGHLY desired. However, someone with Solid PCI experience with a strong technical background which include Cyber / Secure by design etc would be considered. Experience managing internal stakeholders and external third parties essential. Flexible working, but with the ability to get into London. This is an exclusive role to DCL Search & Selection. Arrange a call with Chris Holt on https://calendly.com/chris-holt/arrange-a-call-chris-dcl-pci-compliance
-
- SPLUNK Level 3 SOC Consultant, SIEM Splunk, London / Birmingham
- Birmingham
- 55000
-
REF CH7825 Level 3 SOC Consultant, SIEM Splunk, London / Birmingham £55,000 + Level 3 SOC Consultant, SIEM SPLUNK needed. Security Clearance. Permanent role Level 3 SOC Consultant, SIEM SPLUNK needed to join a public sector client. The ability to achieve SC clearance is essential. MUST have experience working with SPLUNK ideally to an Advanced Power User level. Splunk Enterprise Security (ES) knowledge and hands on experience highly desirable. The role will include, but not be limited to; managing and handling incidents end to end, supporting and mentoring level 1 / level 2 staff, supporting the SOC manager in the delivery of the SOC roadmap, engaging with the client stakeholders (other technical teams) as and where needed, use case development, advanced search and reporting etc. The individual MUST currently be living in the UK and be able to achieve UK security clearance. (SC) This is a permanent role To arrange a call with Chris Holt use this calendy link https://calendly.com/chris-holt/arranged-call-with-chris-holt-remote-soc-role Chris.Holt@dclsearch.com