RealTime IT News

Avaya Set to Go Public, Again

Avaya filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) on Thursday for an IPO that is set to raise $1 billion.

Avaya's IPO is for 20 percent of the shares in the company and will value the total company at approximately $5 billion.

The IPO will mark a return to the public markets for Avaya which was public until 2007 when a group of private investors took the company private in an $8.2 Billion deal.

As a corporate entity, Avaya began its existence within AT&T and was part of the Lucent Technologies spinoff in 1996. Four years later in the year 2000, Avaya was spunoff from Lucent and began trading on the NYSE in October of 2000.

Avaya revealed in the S-1 that for fiscal 2010 it had generated $5 billion in revenue. The company currently employs 18,925 people.

Read the full story at Datamation:
Avaya Returning to the Public Markets