Thursday, May 27, 2010

Avaya to Sell Stake in AGC Networks to Essar

Avaya has agree to sell its approximate 59% ownership interest in AGC Networks Ltd. (formerly Avaya GlobalConnect) to affiliates of the Essar Group for approximately US$44.5 million.

AGC Networks, established in 1986, is a converged communication solutions provider focused on the India and Australia markets. The Essar Group is a multinational conglomerate spanning steel, oil & gas, power, communications, shipping ports & logistics, construction and minerals. Its communications group is focused on the customer care and acquisition market and has a track record of introducing process and technology innovation.

The sale of its AGC Networks stake will enable Avaya to drive additional focus on two of its strategic imperatives: the development of the Avaya business in India and the growth and extension of its channel coverage model through Avaya's global channel program, Avaya Connect. AGC Networks remains a key channel partner of Avaya serving customers in the India market, one of the fastest growing enterprise communications markets in the world, and in Australia.