Avaya is planning a $1 billion IPO filing-WSJ

CALIFORNIA, USA: Private-equity backed Avaya Inc plans to file for a $1 billion initial public offering as early as this week, according to a Wall Street Journal report.

The offering could value the maker of telecommunications equipment at $5 billion or more, according to the story which cited unnamed people familiar with the matter. A spokesman for Avaya declined comment.

Avaya was taken private in 2007 by a group of private equity firms Silver Lake Partners and TPG Inc.

Underwriters involved in the IPO are Goldman Sachs Group Inc, Morgan Stanley, JP Morgan Chase & Co, Citigroup Inc, Barclays Capital and Credit Suisse Group, according to the story.

Barclays and JP Morgan declined comment. Goldman Sachs, Morgan Stanley, Citigroup and Credit Suisse were not immediately available for comment.

Avaya was spun off from Lucent Technologies in 2000. Lucent is now a part of Alcatel-Lucen