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Nortel Announces Enterprise Unit Sale

On July 20, 2009, Nortel announced that it has entered into a "stalking horse" asset and share sale agreement with Avaya, Inc. for its Enterprise Solutions business for a purchase price of US$475 million. These agreements include the planned sale of substantially all of the assets of the Enterprise Solutions business globally as well as the shares of Nortel Government Solutions Incorporated and DiamondWare, Ltd.

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Posted on Friday, July 24, 2009 (Archive on Friday, July 31, 2009)
Posted by lross  Contributed by lross
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