Avaya Announces Stockholder Approval of Acquisition of the Company
BASKING RIDGE, N.J., Sept. 28 / -- Avaya Inc. (NYSE:AV), a leading global provider of business communications applications, software and services, today announced that, at the company's special meeting of stockholders held Friday, September 28, 2007, in Wilmington, Delaware, the company's stockholders voted to adopt the merger agreement providing for the acquisition of Avaya by affiliates of Silver Lake Partners and TPG, two private equity firms.
Avaya also announced that all regulatory approvals required to complete the transaction have been obtained, including the receipt of clearance from the European Commission.
On June 4, 2007, Avaya entered into a definitive agreement with an entity formed by Silver Lake Partners and TPG providing for the acquisition of the company. The transaction is expected to be completed by the end of October 2007, subject to the satisfaction or waiver of certain closing conditions. Under the terms of the merger agreement, Avaya stockholders will be entitled to receive $17.50 per share in cash for each share of the company's common stock, without interest.
About Avaya
Avaya delivers Intelligent Communications solutions that help companies transform their businesses to achieve marketplace advantage. More than 1 million businesses worldwide, including more than 90 percent of the FORTUNE 500 (R), use Avaya solutions for IP Telephony, Unified Communications, Contact Centers and Communications-Enabled Business Processes. Avaya Global Services provides comprehensive service and support for companies, small to large. For more information visit the Avaya Web site: http://www.avaya.com/.
FCMN Contact: lynnnewman@avaya.com
Source: Avaya
CONTACT:Media, Lynn Newman, +1-908-953-8692 or mobile, +1-908-672-1321, lynnnewman@avaya.com; Investors, Matthew Booher, +1-908-953-7500, mbooher@avaya.com, both of Avaya
Web site: http://www.avaya.com/
