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Report: Avaya in joint venture talks with RingCentral

Avaya Holdings Corp. is in talks to form a joint venture with RingCentral Inc. and may abandon plans for a full sale of the company, Bloomberg News reported Sept. 12, citing people familiar with the matter.

Financial terms of the proposed joint venture were not disclosed. Talks between the companies may fall apart, sources said, adding that the outcome of Avaya's strategic review is not certain.

Avaya said in August that it was in discussion with multiple parties about a potential deal and would conclude its strategic review within 30 days. The Santa Clara, Calif.-based company emerged from bankruptcy almost two years ago.

Belmont, Calif.-based RingCentral provides software that runs communications systems for small and midsize businesses.