Avaya prevailed its bid to acquire Nortel Enterprise Solutions at auction for US $900 million in proceeds to Nortel and an additional pool of $15 million reserved for an employee retention program. 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. “http://www.avaya.com
http://www.nortel.com
- In July 2009, Avaya initially announced a deal to acquire Nortel’s enterprise solutions business for US$475 million.