Report: Avaya being pursued by private equity

Avaya may become the next major technology firm purchased by private equity, the Wall Street Journal reported

Avaya may become the next major technology firm purchased by private equity, a report Tuesday indicated.

The Basking Ridge, New Jersey telecommunications gear maker's relatively high cash flow and low debt have made it a target of private equity firm Silver Lake and rival networking company Nortel Networks, the Wall Street Journal said Tuesday, citing anonymous sources.

The company, which has a market capitalization of $US6.18 billion, may be open to a partial or complete buyout, the report said. Along with a healthy balance sheet, the company also has a wealth of patents, some leftover from its days as the telecom equipment arm of AT&T.

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