As a publicly listed firm Avaya International’s first priorities are to enable partners to maximise the accelerated innovation it aims to bring.
Post a year of restructuring and successful emergence from Chapter 11, Avaya has begun trading as a publicly listed company on the New York Stock Exchange (NYSE) last month. The balance sheet restructuring that took place over the last year resulted in getting rid of billions of dollars of debt, releasing over $300 million in positive cash flows.
Ringing the opening bell to mark the first day of trading as a public company in New York on 17th January, Jim Chirico, president and chief executive officer, Avaya, said, “On behalf of our entire team, our customers and partners, it is an honour to mark the day of trading on the NYSE for the new Avaya, which is more focused than ever on leading the industry’s digital transformation.”
The company is now looking to invest in innovation through collaboration with partners.
“Going public is a major milestone for us because it is a sign of trust by the markets in our future. And that was based on our past performance, current strategies, customer installment base and partners’ commitment to Avaya,” said Fadi Moubarak, vice president, Channels, Avaya International.
He added that being listed on the NYSE will also help the firm’s partner community with “accelerated innovation” that it aims to bring.
This story is from the February 2018 edition of Reseller Middle East.
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This story is from the February 2018 edition of Reseller Middle East.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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