Wednesday, February 24, 2010
GENBAND To Buy Nortel VoIP Unit
Plano-based GENBAND said today that it has been selected by a court to acquire the assets of Nortel's Carrier VoIP and Application Solutions Business (CVAS). Financial details of the deal were not announced, however, GENBAND said that the acquisition is being funded by One Equity Partners and others to acquire the Nortel unit. Nortel files for bankruptcy in January of 2009. The acquisition is subject to approval by the court and regulatory approval in the Canada, U.S., and elsewhere. Nortel's business unit develops carrier Voice-over-IP products.