Interesting times -- I wonder if "... the apparent victory of a private-equity buyer emphasizes the continued market power of buyout shops", as the article asserts, or if perhaps other expected bidders such as Nortel (see this Mike Gotta post for more analysis) have declined to play in the final round.
Avaya's equipment is at the heart of corporate telecommunications systems, helping direct voice and data traffic at many of the nation's largest corporations. A former division of Lucent Technologies Inc. and predecessor company AT&T, Avaya holds patents and equipment used to migrate traditional phone and data systems to integrated Internet protocol-based networks. Using these protocols, Avaya's products provide about one million customers with a mix of voice, email, conference, instant messaging and video communications.
About 50% of Avaya's revenue comes from long-term service contracts, part of the reason it is an attractive target to buyout firms.