Click here to visit Original posting
Networking and collaboration vendor Avaya declared bankruptcy on Thursday, calling the move part of its transition from a hardware to a software and services company.
Avaya emerged from Lucent Technologies in 2000 with a focus on phone switches, enterprise networking gear, and call-center systems. But with the shift toward mobile phones and cloud-based tools for communication, and a tight market for enterprise network equipment, the company has been changing its focus.
It plans to keep operating during the bankruptcy thanks to its cash from operations and US$725 million in financing that still needs approval by the U.S. Bankruptcy Court. Avaya said its foreign affiliates aren’t included in the filing and won’t be affected.
To read this article in full or to leave a comment, please click here