TPG Capital and Silver Lake have tentatively agreed to acquire New Jersey-based Avaya Incorporated, the parent company of Avaya Global Connect, for $8.2 billion

TPG Capital and Silver Lake have tentatively agreed to acquire New Jersey-based Avaya Incorporated, the parent company of Avaya Global Connect, for $8.2 billion. As per the deal, Avaya shareholders will receive $17.5 in cash per share, which reflects a premium of approximately 28 per cent. This will have a direct implication on Avaya Global Connect as Avaya Incorporated holds 59.13 per cent stake in the former. However, the deal is not expected to be finalised till the fall of 2007. Avaya will continue to solicit additional bids till about the first week of August. However, analysts are expecting the Silver Lake/TPG offer to be finalised.