Topic: chapter 11 bankruptcy
Avaya has named Nikos Nikolopoulos its new senior VP for corporate strategy, corporate development and marketing.
Avaya has secured a $2.9 billion senior secured term loan as part of its process to emerge from Chapter 11 protection.
Avaya’s reorganization plan has gotten the thumbs up from its key creditors.
Extreme Networks has reached an agreement to purchase Avaya’s networking business for $100 million.
Avaya has filed for Chapter 11 bankruptcy on Thursday in an effort it says will reduce debt.