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AT&T-Lucent-Avaya-Nortel
Avaya Selected to Acquire Nortel Enterprise Solutions
BASKING RIDGE, NJ - Avaya announced it was selected to
acquire Nortel Enterprise Solutions for US $900 million in proceeds to
Nortel and an additional pool of $15 million reserved for an employee
retention program.
The announcement follows the completion of an auction, and the final transaction is subject to court and customary regulatory approvals in Canada and the United States.
"Our successful bid brings us closer to adding Nortel and its complementary
channel, portfolio, research and development, and global presence to
Avaya," said Kevin Kennedy, president and CEO, Avaya. "We believe the
acquisition brings inherent value to both organizations' customers,
employees and partners, and we look forward to its successful conclusion."
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