The report said Santa Clara, Calif.-based Avaya aims to grow its communications software business and cloud-based technology portfolio. The leveraged buyout offer came 15 months after the firm completed financial restructuring and Chapter 11 emergence processes.
The company posted a $738M revenue for the first quarter of its 2019 fiscal year ended Dec. 31, 2018. Eighty-three percent of that amount came from software and services sales.
Shares of Avaya closed Friday at $13.21, reflecting a market capitalization of roughly $1.5B.
The firm’s government solutions business provides unified communications hardware and software, data networking, video, mobility and contact center platforms.