Avaya reaches debt restructing deal with creditors to exit bankruptcy

Telecommunications Company Avaya reaches debt restructuring deal with creditors to exit bankruptcy

Telecommunications firm Avaya announced on Monday that they now have a clear path to exit Chapter 11 bankruptcy by reaching an agreement with its senior creditors and the government’s pension insurer. The arrangements could cut more than $3 billion from the $6.3 billion in debt Avaya had when it entered bankruptcy in January. Avaya had…

Could ShoreTel acquire 8×8?

There’s an unidentified source claiming that: 8×8, a VoIP and cloud service provider focused mainly on business customers, is considering selling the company amidst a growing wave of consolidation in the telecom service provider industry segment. Citing unnamed sources close to the company, Reuters reported that 8×8 has been consulting with Morgan Stanley to gauge…