Avaya Looks to Buy Nortel for $475 Million
[Satellite Today 07-22-09] Avaya has entered into an asset and share sale agreement in efforts to purchase Nortel, an enterprise communication solution business, which involves manufacturing satellite network products, for $475 million, Avaya announced July 21.
The combination of Avaya and Nortel Enterprise Communications would account for more than 30 percent of the global contact center market.
In January, Nortel filed for bankruptcy protection in the United States, Canada and the United Kingdom in order to restructure its debt and financial obligations. In a statement released in March, Nortel said it did not expect to emerge from bankruptcy and would be selling off its various business units.