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Avaya IPO faces long wait amid Facebook mania
April 3, 2012 | Hogan Keyser
After almost five years of unprofitable private ownership and nine months since it registered for a $1 billion IPO, Avaya, owned by private equity firms Silver Lake and TPG Capital LP, is sensing little appetite among potential investors, four sources familiar with the matter told Reuters.
Such feedback may prompt the company to hold off on the IPO until later this year or 2013, according to the sources, who asked not to be named because the discussions are private.
Avaya, Silver Lake and TPG declined to comment.
An IPO was expected by at least the first quarter of 2012, but the uncertain economic climate and choppy equity markets in the second half of last year scuppered preparations for such a launch.
Avaya is now stuck in an IPO backlog that is crowded with technology companies. These are fast-growing social media, software, and mobile platform startups that are a far cry from Avaya's mature telecom equipment business.
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