Hot off the e-mail wire:
Avaya today announced it was selected to acquire Nortel Enterprise Solutions for US $900 million in proceeds to Nortel and an additional pool of $15 million reserved for an employee retention program.
Today’s announcement follows the completion of an auction, and 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. “We believe the acquisition brings inherent value to both organizations’ customers, employees and partners, and we look forward to its successful conclusion."