target audience: TECH SUPPLIER Publication date: Mar 2023 - Document type: Market Note - Doc Document number: # US50424323
Avaya Keeps Its Eye on the Prize and Views the Restructuring Support Agreement and Expedited Chapter 11 Process as Critical Steps in Its Software and Support Solutions Future
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Abstract
This IDC Market Note provides a summary and analysis of Avaya's February 14, 2023, announcement that it had entered into a Restructuring Support Agreement (RSA) with the overwhelming support of more than 90% of the company's secured lenders. Avaya is looking to the financial restructuring to accelerate its ongoing business transformation, significantly enhance its ability to invest in the company's innovative cloud-based communications portfolio, and position the company for long-term success. This IDC Market Note also provides perspective on Avaya's role in the transition of Avaya's customer base to the cloud and the opportunities and challenges therein.