Vendor also establishes new Board of Directors to drive growth
Story by David Dungay, UC Today
Avaya has “significant financial resources” in place to drive growth after completing its restructuring and exiting bankruptcy protection, CEO Alan Masarek has said.
Avaya confirmed its exit from Chapter 11 today, claiming to have a new growth-oriented capital structure that will see $650m in cash made available to fund Masarek’s future growth objectives.
Masarek said: “We are excited to fully realize the hard work we’ve put into our business transformation. We are moving ahead with significant financial resources to accelerate investment in our portfolio as we continue delivering innovation without disruption to our customers.”
The company’s focus and innovation will be on its Experience Platform, which it says helps organisations build power customer experience capabilities.