Avaya considering joint venture with RingCentral instead of selling up - reports
.jpg)
Avaya is said to be in talks to form a joint venture with RingCentral, people close to the matter have told Bloomberg.
RingCentral is a publicly listed company that specialises in providing video conferencing software for SMBs.
Last month, Bloomberg reported that Mitel had made a bid to take over the beleaguered Avaya, proposing a reverse merger that would result in a telecommunications vendor worth over $5bn.
However, Avaya is now in talks to partner with RingCentral, which would mean abandoning any plans to sell the company. The sources added that there is still a possibility that those talks could collapse and the outcome of the strategic review remains uncertain.
In its Q3 earnings report in August, Avaya CEO Jim Chirico told investors that the company was in talks with a number of parties "on a range of strategic transactions to maximise shareholder value".
He said at the time that he expected the strategic review would conclude within 30 days, but that timeline has now expired.
That strategic review is still in place the vendor confirmed in an update, though it did not disclose on when it would now end, only that it was working to hasten the process.
"Avaya's…review of a range of strategic alternatives is ongoing and it remains in advanced discussions," the statement read.
"Avaya's board of directors and management, supported by its legal and financial advisors, are working expeditiously to conclude the deliberate and comprehensive review.
"There can be no assurances regarding the timing of any action or transaction nor that the strategic review process will result in any particular outcome.
"The company does not intend to provide additional updates unless or until it determines that further disclosure is necessary."
Avaya's saw its share price drop 11.5 per cent - its biggest since May - just before the news emerged and shares have remained flat since.
RingCentral enjoyed an initial four and a half per cent bump in its stock on foot of the news, though it has since declined slightly.
Reports emerged earlier this year that Avaya was seeking a private equity-backed buyout to the tune of $5bn.
The company has had a turbulent few years which have seen it go into bankruptcy, flog its networking unit to Extreme Networks, emerge from bankruptcy and float on the New York Stock Exchange.
source channelweb
Industry: Unified Communications
Latest Jobs
-
- CONTRACT SIEM Cyber Security Operations Engineer. REMOTE OUTSIDE IR35
- United Kingdom
- £500
-
REFCH8165 CONTRACT SIEM Cyber Security Operations Engineer. REMOTE UK SIEM Engineer. 6 month Contract. OUTSIDE IR35 Working towards a "SOC 2" environment. CLOUD (AWS) experience essential. Three key functions; Monitor, Escalate and Triage incidents. Vulnerability Management / threat intel. SIEM configuration / management, review, enhancement More specifically; Work with internal teams to identify assets. Identity applicable threat feeds and work with internal teams to remediate. Patch Patch Patch. (Help mature process / identify gaps) Configuration / fine tuning of SIEM alerts. Create dashboards, Compliance reporting. Log ingestion. Experience across ISO27001 / SOC2 / SIEM / End Point Security is essential Contact me today for more information Chris.Holt@dclsearch.com Or 07884666351
-
- Cyber Security Operations Engineer. REMOTE UK. SOC2
- United Kingdom
- £65000
-
REF8164 Cyber Security Operations Engineer. REMOTE UK Internal opportunity. New position. Exclusive to DCL Search. You will be the hands on technical eyes and ears of the Cyber security capability actively working to ensure and enhance the adherence to ISO27001 and "SOC 2" controls. You role will touch on the following · Security Monitoring- SIEM · Vulnerability Management / Testing · Incident Management · Asset management · Disaster Recovery planning · Change Management AWS Cloud experience is essential as is the ability to ensure patch management is prioritised across the business. Any CLOUD SIEM experience highly desirable. Contact me today for more information Chris.Holt@dclsearch.com Or 07884666351
-
- Lead Security Architect
- United Kingdom
- 100,000
-
Engage with key clients in an Architectural / technical presales capacity. Including Stakeholders, end users / partners. Working on new and existing Security projects to confirm that proposed solutions are fit for purpose from both a technical and regulatory capacity. Working closely with multiple vendor . Managed security service background ideal CLOUD Security (AZURE OR AWS), IDAM background ideal.
-
- Threat Vulnerability Management Analyst
- United Kingdom
- 45000
-
To monitor, identify and alert internal teams of cyber threats and vulnerabilities. MIRE Att&ck, CIS, OWASP, Vulnerability management tools MUST be able to commute to central London MUST be able to achieve UK SC Clearance. On going support and development.