It's no wonder telecom software company Avaya Inc. is attracting suitors. The Basking Ridge, N.J.-based company boasts a $6 billion portfolio of products and a low level of debt. And it's meeting with private equity firms and rivals to explore exit options, according to The Wall Street Journal. The company has long been a takeover target because of its small size relative to rivals and because of its coveted technology. Private equity firm Silver Lake Partners and telecom equipment giant Nortel Networks Corp. have reportedly met with Avaya, and networking gearmaker Cisco Systems Inc. is also a potential buyer. With such speculation, it's likely that Avaya may go the way of one of its rivals, Inter-Tel Inc., which in April agreed to be acquired by Mitel Networks Corp. of Ottawa and Francisco Partners for $25.60 per share, or $723 million. Since then, the Tempe, Ariz.-based company has received a competing bid from Vector Capital Corp. of $26.50 per share, roughly a $748 million offer, according to TheDeal.com and the Phoenix Business Journal. —Cheryl Meyer
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