November 16, 2006

Avaya buys software company Traverse

Avaya Inc., a business telecommunications equipment provider, said Thursday that it has acquired Traverse Networks, a privately held company that makes software for mobile phones.

The terms of the deal were not disclosed. Traverse, based in Fremont, Calif., focuses on software that enables users to manage office voice mail through their mobile phone, Avaya said.

Avaya also said that it plans to release products that include Traverse's technology in the second half of 2007.

Shares of Avaya dropped 33 cents, or 2.5 percent, to $13.05 in midday trading on the New York Stock Exchange.