RingCentral to acquire a 6% stake in Avaya for $125m.

RingCentral, a provider of global enterprise cloud communications, collaboration and contact center solutions, agreed to acquire a 6% stake in Avaya, a multinational technology company that specializes in business communications, specifically unified communications, contact center, and services, for $125m. "The strategic actions that we are executing as a result of our comprehensive review create new growth opportunities, return capital to our shareholders and de-lever our balance sheet. With a clear path forward, we will further invest in technology and innovation to continue bringing state-of-the-art solutions to our valued customers and partners,” Jim Chirico, Avaya President and CEO.