Speculation spreads over Avaya IPO

Rumours abound that networking giant could hold an initial public offering as soon as April

Reports have emerged that telephony and networking giant Avaya is set to hold an initial public offering (IPO) in the next couple of months.

According to a story on Bloomberg, the firm, which is owned by private-equity players Silver Lake and TPG Capital, could hold the IPO as soon as April.

Sources told Bloomberg that back in June the company filed to raise $1bn (£631m) in an IPO, but put off the sale due to reluctance on the part of investors.

The vendor's latest set of results show a strengthening of its position, with fourth-quarter net loss shrinking to $26m compared with $180m the previous year. Turnover rose 1.5 per cent to $1.39bn.

Last month the firm's vice president of worldwide channels Jeremy Butt headed off to pastures new after a four-year reign of trying to push more business through the channel.

The company claimed that about 90 per cent of its EMEA business went through the channel at its last count.

Avaya did not comment to Bloomberg about the IPO rumour.