Avaya selected to acquire Nortel Enterprise Solutions
September 16, 2009On July 20, 2009, Avaya announced its offer to purchase Nortel Enterprise Solutions, including Nortel Government Solutions. Avaya and other interested bidders then went through an auction process. On September 14, 2009, Avaya was selected, pending bankruptcy court approval, to acquire Nortel Enterprise Solutions for US $900 million and an additional pool of $15 million reserved for an employee retention program. The deal includes substantially all of the assets of Nortel's global Enterprise Solutions business as well as the shares of Nortel Government Solutions, Incorporated and DiamondWare, Ltd.
The final transaction is subject to court and customary regulatory approvals in Canada and the United States. Avaya and Nortel will continue to operate as competitors until the process has been completed.
Click here to read Avaya's press release for further detail.
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