Santa Clara, Calif.-based Avaya, a portfolio company of private equity firms Silver Lake and TPG Capital, said it has engaged advisors to assist in “comprehensively assessing alternatives and evaluating expressions of interest.” Goldman Sachs and Centerview Partners are serving as financial advisors, the company said in a statement last week.

In 2007 Avaya, was acquired by TPG Capital and Silver Lake Partners for $8.2 billion. Since 2011, TPG and Silver Lake have tried from time to time to unload Avaya through an IPO or an M&A deal, but their efforts have been elusive so far.

Since 2001, Avaya has sold and acquired several companies, including VPNet Technologies, Inc., VISTA Information Technologies Inc., RouteScience, Tenovis, Spectel, NimCat Networks, Traverse Networks, Ubiquity Software Corporation, Agile Software NZ Limited, Konftel, Sipera, Aurix, Radvision and Esnatech.

Avaya is a leading provider of solutions that enable customer and team engagement across multiple channels and devices for better customer experience, increased productivity and enhanced financial performance.

In March this year, the company launched a stand-alone cloud-based communications platform-as-a-service (CPaaS) called Zang, which allows users to easily and quickly create voice and SMS applications – whether for a mobile device, computer or integrated into traditional phone systems.

Its world-class contact center and unified communications technologies and services are available in a wide variety of flexible on-premise and cloud deployment options that seamlessly integrate with non-Avaya applications. The Avaya Engagement Environment enables third parties to create and customize business applications for competitive advantage. Avaya’s fabric-based networking solutions help simplify and accelerate the deployment of business critical applications and services.

Avaya employs more than 13,000 people worldwide, and its support services are backed by experts in 28 support centers around the world, handling more than two million service requests annually in 16 languages in 42 countries. The company has 5,400 patents and pending patent applications.

The company’s total revenue for the second quarter fiscal quarter ended March 31, 2016, was $904 million, down $54 million compared to the prior quarter, down $91 million year-over-year, as demand for unified communications products continued to contract. For the quarter, adjusted EBITDA was $205 million which compares to adjusted EBITDA of $228 million for the prior quarter and $208 million for the second quarter of fiscal 2015. GAAP operating income was $17 million and non-GAAP operating income was $162 million which compares to non-GAAP operating income of $185 million for the prior quarter and $162 million for the second quarter of fiscal 2015.

In 1995, the company that would become Avaya was part of Lucent Technologies. Before that it had been part of AT&T. In 2000, Avaya Inc. was spun off by Lucent as an independent company and started trading on the New York Stock Exchange, until it was acquired for $8.2 billion in a going-private transaction by Silver Lake and TPG Capital in 2007.

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