Avaya has gone private.

Once again, Nortel does not get Avaya. Instead, TPG Capital LLC and Silver Lake Partners have agreed to purchase Avaya for $8.2 billion. TPG Capital is certainly getting its foot in the telecom door. The company is also one of the buyers of Alltel.

Between Nokia-Siemens and Nortel, it's not an easy sector. Many analysts thought Avaya would go to one of its rivals. Instead, as SmartMoney says, "the acquisition does nothing to diminish competition in what's a very tough market."

Avaya Inc. has agreed to be acquired by two investment firms in an $8.2 billion deal that would take the developer of corporate-phone systems private.

Late Monday, private-equity firms TPG Capital LLC and Silver Lake Partners said they'll pay $17.50 in cash for each share of Basking Ridge, N.J.-based Avaya.

(Continue reading this story on SmartMoney)

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