Avaya Offers to Buy Ubiquity Software for £74.3 Million

6:30 am on January 17, 2007 | Category: Business, Internet, Software, Telecom Services, VoIP

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Enterprise networking giant, Avaya, has put in an offer to purchase UK-based Ubiquity Software, which develops Session Initiation Protocol (SIP) applications for IP communication.

Avaya is offering a total of £74.3 million for the company, or the equivalent of £0.373 per share. This represents an 86% premium over Ubiquity’s total market capitalization just four weeks ago on December 20.

Executives at Ubiquity are recommending the deal to shareholders, who will need to vote on the matter within the next 20 business days.

“As part of the Avaya group, we believe that Uniquity will be well positioned to gain access to Avaya’s customer base and the resources to exploit the opportunities we see in the emerging telecommunications marketplace,” said Ubiquity’s Chief Executive Officer, Ian McLaren.

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    Edited by Jeremy Maddock