Wednesday, December 23, 2009
GENBAND To Buy Nortel's VoIP Business
Plano-based GENBAND, a manufacturer of IP telecommunications infrastructure, announced today that the firm has entered into a deal with Nortel, to acquire "substantially all" of the assets of Nortel's Carrier VoIP and Application Solutions Business. GENBAND said the deal was worth $282M. The firm said it is partnering up with an existing shareholder, One Equity Partners (OEP) and JPMorgan Chase & Co. on the purchase of the Nortel assets, which it said will give it access to Nortel's widely used softswitch and application technology.