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GENBAND acquires Carrier VoIP and Application Solutions business from Nortel NetworksMay 31, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- GENBAND, Inc., a provider of IP multimedia application and infrastructure products and solutions, has completed the acquisition of substantially all assets of the Carrier VoIP and Application Solutions (CVAS) business from Nortel Networks, Inc. All the entities are based in the US. Update on March 3, 2010: GENBAND has received an approvals from bankruptcy courts in Canada and the US to acquire the CVAS business from Nortel Networks. GENBAND has teamed with One Equity Partners LLC and other existing shareholders to secure the assets of Nortel Networks. One Equity Partners is a private equity investment firm, while Nortel Networks is a provider of networking products and solutions for telecommunications providers, cable operators, enterprise communications and other related service providers. Announcement (December 23, 2009): GENBAND, along with One Equity Partners, has entered into an agreement to acquire the CVAS business from Nortel Networks for $282 million. The transaction, which encompasses substantially all of the assets of Nortel's North American, Caribbean and Latin American (CALA) and Asian CVAS business, as well as substantially all of the assets of the European, Middle Eastern and African (EMEA) portion of its CVAS business. Jefferies & Company, Inc. is acting as financial advisor to Nortel Networks and Latham & Watkins LLP is acting as legal advisor to GENBAND. Deal Value (US$ Million) 282 Deal Type Private Equity Sub-Category Institutional Buy-out (IBO) Deal Status Completed: 2010-05-28 Deal Participants Target (Company) Nortel Networks, Inc. - Carrier VoIP and Application Solutions Business Acquirer (Company) GENBAND, Inc. Vendor (Company) Nortel Networks, Inc. Deal Rationale The acquisition will enable GENBAND to enhance its VoIP portfolio services in North America. The transaction combines GENBAND's access, trunking, session and security gateway technology and Nortel's used softswitch and application technology. % Acquisition 100% |