The dark satanic rumour mill has manufactured a hell on earth yarn claiming that Avaya is in talks to form a joint venture with RingCentral.
The source of the rumour is Bloomberg. Last month, Bloomberg reported that Mitel had made a bid to takeover the Avaya, proposing a reverse merger that would result in a telecommunications vendor worth over $5 billion.
If Avaya is now in talks to partner with RingCentral, it could mean abandoning any plans to sell the company. The sources added that there is still a possibility that those talks could collapse and the outcome of the strategic review remains uncertain.
In its Q3 earnings report in August, Avaya CEO Jim Chirico told investors that the company was in talks with a number of parties “on a range of strategic transactions to maximise shareholder value”.
He said at the time that he expected the strategic review would conclude within 30 days, but that timeline has now expired.
That strategic review is still in place the vendor confirmed in an update, though it did not disclose on when it would now end, only that it was working to hasten the process.
“Avaya’s…review of a range of strategic alternatives is ongoing and it remains in advanced discussions,” the statement read.
