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सोमवार, सितंबर 21, 2009

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. 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.

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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