According to Reuters Silver Lake and TPG Capital had talks with Oracle but the talks fizzled in the last few months. Avaya filed for an initial public offering in 2011 but never did it.
Now it seems that the private equity firms are trying to cashing out of their investment in Avaya, whose conferencing systems and network gear are facing a tough time against Cisco and ShoreTel.
Avaya hopes for an IPO in 2014, but buyout firms faced an uphill struggle to make the company appealing to stock market investors.
