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PORTFOLIO

Avaya

Stage: Spin-outs

Date of Investment: 2000

Web Site : http://www.avaya.com

Stock Symbol : NYSE: AV

Avaya is a leading provider of communications systems and software to businesses and government agencies. In October 2000, Warburg Pincus invested $400 million in Avaya to support the company's spin-out from Lucent Technologies. Avaya's management team selected Warburg Pincus to be its partner as a result of Warburg Pincus' experience in building global technology companies and helping large companies implement restructuring plans. The company's products include sophisticated PBXs, call center and customer relationship management systems, voice messaging systems and converged voice and data systems. Avaya is the U.S. leader in sales of enterprise voice communications systems and is also one of the three leading vendors worldwide.

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