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Published on October 2, 2007

Avaya announced that the company's stockholders voted to adopt the merger agreement providing for the acquisition of Avaya by affiliates of Silver Lake Partners and TPG, two private equity firms. 

Avaya also announced that all regulatory approvals required to complete the transaction have been obtained, including the receipt of clearance from the European Commission. 

On June 4, 2007, Avaya entered into a definitive agreement with an entity formed by Silver Lake Partners and TPG providing for the acquisition of the company.  The transaction is expected to be completed by the end of October 2007, subject to the satisfaction or waiver of certain closing conditions. Under the terms of the merger agreement, Avaya stockholders will be entitled to receive $17.50 per share in cash for each share of the company's common stock, without interest.