Privately held Avaya Inc. could be preparing to go public once again.
Avaya traded on Wall Street before being bought out by private equity firms TPG Capital and Silver Lake in 2007. Now, less than three years later, and with bankrupt Nortel assets and 6,000 former Nortel workers in the ranks, the time may be near for an Avaya IPO.
That’s according to the Financial Times. The paper quoted Todd Abbott, senior vice president of global sales and marketing, recently as saying Avaya will monitor market conditions and is open to an IPO in the next few years.
Abbott made the comment not long after Avaya wrapped the $915 million purchase of Nortel’s enterprise solutions properties. Avaya’s gearing up to combat rivals including Cisco Systems Inc.
Avaya last week unveiled its integration strategy for its products and Nortel’s enterprise platforms.