GENBAND confirmed its plans to acquire substantially all assets of the Nortel Carrier VoIP and Application Solutions Business (CVAS). The acquisition is subject to court and certain regulatory approvals in Canada, the United States and other jurisdictions, as well as other closing conditions.
The deal combines GENBAND's next-generation media, session and security gateway technologies and Nortel's softswitch, media gateway and application technologies. The combined company will have products deployed with over two-thirds of the world's top 100 service providers and will cover broad markets including fixed, mobile, cable and broadband operators.
GENBAND has teamed with One Equity Partners (OEP) and other existing shareholders to secure the Nortel assets.
- In January 2010, GENBAND first announced plans to acquire Nortel's CVAS assets for a purchase price of US$282 million, subject to balance sheet and other adjustments currently estimated at approximately US$100 million.