In the year of high-profile Initial Public Offerings Avaya has grabbed attention by recently filing for a $1 billion IPO. Avaya is currently backed by private equity firms Silver Lake Partners and TPG Inc., companies who purchased the company in 2007 for $8.3 billion after its spin off from Lucent Technologies.
The IPO is using some famous names for its underwriters, including the likes of Goldman Sachs, Citigroup, JP Morgan Chase, Credit Suisse, and Barclays--none of whom have released a comment on the IPO.
The IPO comes amid a burst of IPOs, similar to the DOT-com wave bubble burst. With Avaya, Zynga, Groupon, and Facebook set to IPO in the next year, the focus of many analysts is on tech companies looking to go public. Especial scrutiny is being paid to current tech IPOs with the biggest IPO of the year, Facebook rumored to be using Goldman Sachs to create a special vehicle for their IPO—avoiding the public scrutiny caused to young entrepreneurs by public IPOs. If this sounds familiar Goldman Sachs also created a special vehicle for their most famed client—Enron.
The Avaya IPO could help set the value for the telecommunications equipment manufacturer above $5 billion, according to a story that declined to cite its sources. Avaya spokespeople have declined to comment on how the IPO could help set a worth for their company.
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