Enterprise Solutions of Nortel Bought By Avaya Inc. For $900 Million

Nortel Networks Corp, Toronto telecom-equipment producer sell all the assets of its enterprise-solutions business and more to Avaya Inc. fo...


Nortel Networks Corp, Toronto telecom-equipment producer sell all the assets of its enterprise-solutions business and more to Avaya Inc. for $900 million cash, with an additional $15 million reserved for an employee-retention program.

Avaya is the closely held Basking Ridge, N.J., enterprise-communications-solutions provider.

Following an auction, Avaya will pay $900m (£544m) in cash to Nortel, and set aside an additional pool of $15m (£9m) for an employee retention programme.
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In return, the firm will receive all of the assets of Nortel's global Enterprise Solutions business, as well as the shares of Nortel Government Solutions and DiamondWare.




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