Avaya goes private
Shareholders of the communications and software company agree to $8.2 billion buyout.
( AP ) -- Shareholders of Avaya Inc. voted Friday to take the communications and software company private, selling it for $8.2 billion to two private equity groups.
The deal is expected to be completed by the end of October
The company announced in June that it accepted a buyout offer from affiliates of Silver Lake Partners and TPG.
Avaya shareholders will get $17.50 a share.
The company said it has received all regulatory approvals to complete the deal.
The amount of debt to be carried by Avaya was not disclosed, spokeswoman Lynn Newman said.
A regulatory filing said the buyers have commitments from banks to provide up to $6 billion in debt financing.
Avaya, based in Basking Ridge, was spun off from the former Lucent Technologies Inc. in September 2000.
Avaya shares closed unchanged at $16.96 Friday. Shares have jumped more than 25 percent since word of the deal leaked in late May.