Avaya, Silver Lake in merger pact

Avaya Inc has entered into a definitive merger agreement with Silver Lake, an
investment firm focused on large-scale invest­ments in technology-driven growth
industries, and TPG Capital, a private investment partnership, for approximately
$8.2 billion or $17.50 per common share.

“After an extensive review of Avaya's strategic alternatives with Avaya
management and our financial advisors, the board of directors of Avaya
determined that this transaction with Silver Lake and TPG provides the best
value for Avaya's shareholders,” said Phil Odeen, Non-executive Chairman, Avaya.
Avaya's board of directors has approved the merger agreement and will request
that Avaya shareholders to adopt the agreement.