Avaya Announces Initial Tender Offer Results for Ubiquity Software
BASKING RIDGE, N.J., Feb. 15: Avaya Inc. (NYSE: AV), a leading global provider of business communications applications, systems and services, today said its wholly owned subsidiary, Avaya International Enterprises Limited, has received binding acceptances representing 96.7 percent of the outstanding shares of Ubiquity Software Corporation plc through its tender offer and has declared the offer wholly unconditional.
At a price of 37.3 pence per share in cash, this represents an aggregate purchase price for the tendered shares of 67 million pounds Sterling ($131.5 million).(1)
The company said the tender offer remains open to additional acceptances at the same price until further notice.
"As we move forward to integrate Ubiquity's software platform into our portfolio, we'll build on the strength of our applications development and management teams to deliver powerful Intelligent Communications solutions to customers," said Stuart Wells, senior vice president and president, Global Communications Solutions, Avaya. "These solutions can help our customers gain a compelling marketplace advantage because of the crucial role communications can play in transforming a business to deliver better operational results."
As a result of the acquisition, Avaya said it expects a small increase in selling general and administrative expenses in the second fiscal quarter of 2007. The company also said as a result of increased investment in research and development and the addition of Ubiquity Software, it expects research and development expenses as a percent of revenue in the second fiscal quarter to be in a range of 9.4 percent.
About Avaya
Avaya Inc. designs, builds and manages communications networks for more than one million businesses worldwide, including more than 90 percent of the FORTUNE 500(R). Focused on businesses large to small, Avaya is a world leader in secure and reliable Internet Protocol telephony systems and communications software applications and services.
Driving the convergence of voice and data communications with business applications - and distinguished by comprehensive worldwide services - Avaya helps customers leverage existing and new networks to achieve superior business results. For more information visit the Avaya website: http://www.avaya.com/.
FCMN Contact: lynnnewman@avaya.com
Source: Avaya Inc.
CONTACT:
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Web site: http://www.avaya.com/
