Essar Group Acquires 59% Stake In Avaya's AGC Networks

Avaya has announced that it has agreed to sell its approximate 59% ownership interest in AGC Networks Ltd. to affiliates of the Essar Group.

The sale of its AGC Networks stake will enable Avaya to drive additional focus on two of its strategic imperatives: the development of the Avaya business in India and the growth and extension of its channel coverage model through Avaya’s global channel program, Avaya Connect. AGC Networks remains a key channel partner of Avaya serving customers in the India market, one of the fastest growing enterprise communications markets in the world, and in Australia.

"The AGC Networks relationship remains key to Avaya’s success in India and Australia – both through the period of this transaction and beyond," said Jangoo Dalal, Managing Director, Avaya India. "In India we work together to serve some of the country’s leading organisations spanning multiple business sectors, and we look forward to continuing to work with AGC Networks as a trusted and well established business partner."

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Updated Date: Feb 02, 2017 22:34:53 IST