History
In July and August 2000 interviews reported that Avaya Communications would be created on October 1, 2000 and the business telephone division of Lucent Technologies Inc. would be spun off into a separate company. Avaya took with it 34,000 employees and also received $400 million in capital from Warburg Pincus.
Henry Schacht became the board chairman and the first CEO was Don Peterson who was promoted from the CFO position of Lucent. Avaya had a stock symbol of "AV" and debuted at $20 a share.
Since 2001, the company has sold, and acquired several companies to support its current product set – Vista, VPNet, Quintus, Routescience, Nimcat Networks, Spectel, Ubiquity Software, and Traverse Networks. Avaya shifted from a direct sales focused to a channel focused organization and while originally 98% of sales came from direct sales, now 50% of sales are from alternate channels. In 2003 Avaya sold its Connectivity Solutions segment to CommScope for $263 million to focus on its phone gear and communications services businesses.
In 2004 Avaya expanded in Europe through a $370 million acquisition of Tenovis and in Asia through a majority interest in Tata Telecom (now Avaya Global Connect). In 2006 Louis D'Ambrosio took over as the CEO and president of Avaya. and on Jan 12, 2007 they announced the acquisition of Ubiquity Software Corporation for $144 million., Ubiquity develops SIP end-user applications.
Read more about this topic: Avaya Government Solutions
Famous quotes containing the word history:
“False history gets made all day, any day,
the truth of the new is never on the news
False history gets written every day
...
the lesbian archaeologist watches herself
sifting her own life out from the shards she’s piecing,
asking the clay all questions but her own.”
—Adrienne Rich (b. 1929)
“Literary works cannot be taken over like factories, or literary forms of expression like industrial methods. Realist writing, of which history offers many widely varying examples, is likewise conditioned by the question of how, when and for what class it is made use of.”
—Bertolt Brecht (1898–1956)
“It takes a great deal of history to produce a little literature.”
—Henry James (1843–1916)