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#644295 02/15/23 01:52 PM
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dexman Offline OP
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Received an email from IAUG that reveals that the company filed CH 11.

Dear IAUG Members,



As you have likely heard, yesterday Avaya announced its plans to implement a financial restructuring to accelerate its business transformation and to invest in the innovative evolution of its communications portfolio.

As part of this plan, Avaya and its U.S. subsidiaries filed voluntary Chapter 11 bankruptcy and expect this restructuring process to be completed within 60-90 days. It is important to acknowledge that Avaya has communicated that this process will have no impact on us as customers or IAUG as an organization. They have shared they are operating normally and will continue to prioritize service and support to customers and partners.

We have been through this before as an organization, and can attest that the partnership that IAUG and Avaya have forged since then through today is stronger than ever, and we are confident we will emerge from this process even more aligned.

As recently as last week, Avaya CEO Alan Masarek joined our Board of Directors call to share his vision for Avaya and our partnership. After hearing his perspective on what it means to truly ???innovate without disruption???, the IAUG board is optimistic and excited about the opportunities that are ahead for us as a community. Yes, times like this bring questions. However, we believe with the current leadership in place and the financial restructuring underway that Avaya is positioned to enhance their strategy and innovations. They have shown great commitment to hearing the voice of their customer. It is our shared goal that we support customers through value-added programs, resources, and opportunities. We hope you will connect with us ??? either at chapter meetings, at Avaya ENGAGE in June, virtually or however is convenient for you, to see, hear, and experience it first-hand.

IAUG is committed to keeping you informed and aware of all updates related to this announcement and the ongoing path forward for Avaya and IAUG. For more specific information and details on today???s announcement, please click here.

We would love to hear from you. If you have suggestions and/or questions that you would like to discuss or hear more about, please do not hesitate to reach out to me directly or IAUG Member Services at [email protected].

 

Sincerely,

Lori Wodrich

IAUG President


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there's a share holder lawsuit as well. What do you expect if you make a 'Deal With The Devil'

"But as the Avaya class action lawsuit alleges, The defendants (Avaya) failed to disclose that: (i) the RingCentral partnership came with onerous requirements that were crippling Avaya's business metrics and financial prospects, including that Avaya granted RingCentral exclusive rights to certain products to its customers, meaning that Avaya had to discontinue certain of its own product offerings that had only recently begun achieving momentum, and that ACO conflicted with other Avaya product offerings, causing Avaya to have to alter those offerings, resulting in Avaya losing some important members of its executive team"


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I've posted about this twice on "the other forum" without feedback from others. I'm not an investor, but I believe these lawsuits will prove to be another huge bite-them-in-the-butt thing that will affect their reputation as much as it does financially. But who knows? Much of the damage was done prior to bringing Masarek on and people have short-term memory. There's a good cloud story shaping up and even Chicken Little here has settled down a bit about the IPO being immediately sunsetted. Four years left and I'm throwing in the towel. For now, I'm like Han Solo trying to speak agency into his crippled ship, "Hear me baby, hold together".


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Nice 4 year plan :-)

You should be safe with IPO for the remaining 4 years from what I can see, but you're also correct that perhaps there's a lawsuit out there that could topple the apple cart a little bit.

Here in Canada Digitcom filed for insolvency back in October and will most likely be purchased by Comwave by the end of this month. But in the mean time, their revenues haven't dropped much. Maybe this sort of news doesn't bother people anymore...


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Hello Canada (got any Newfie jokes for me?)

When an American company runs into trouble, it's common to sacrifice their current Joe to the volcano and hope that the investor gods will be pleased. I don't know if this stuff isn't newsworthy or if the trick of pinning every sin on the previous guy and killing him still works.

Chapter 11 used to be embarrassing, but today it's "just a business move". This seems to be true for personal bankruptcy as well. I knew a guy at Motorola that was told to run up his cards before he filed and he managed to get a new car. But that's another story.

All in all, they're talking about $125 million. In the US business economy these days, that's chump change. That said, I would be livid as an investor and grateful to the media for whipping it up. Most of that is "new money" based on excitement and lack of disclosure.

Anyway, thank you for the vote on IP Office. Look for a card from the beaches of Costa Rica around September 2027.


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