After months of evaluating sale and merger options, telecommunications gear provider Avaya Holdings Corp on Thursday announced a strategic partnership and $500 million cash contribution from RingCentral Inc. Avaya long made hardware systems that sit inside of businesses to provide unified phone and video conferencing services, as well as gear for call centers. The company, which emerged from a bankruptcy filing in 2017 after a previous $8.3 billion leveraged buyout by TPG Capital and Silver Lake in 2007, faces growing competition from large rivals such as Microsoft Corp and Amazon Web Services. …read more
Source:: Yahoo Finance
