Cable & Telecom

Courts OK Avaya’s purchase of Nortel’s enterprise solutions division

TORONTO – Nortel Networks has received Canadian and U.S. court approvals to proceed with the sale of its enterprise solutions business to Avaya.Under the agreements, Avaya will pay US$900 million in cash and fund an additional pool of US$15 million for an employee retention program.  As announced earlier this week, these agreements also include the shares of Nortel Government Solutions Inc. and DiamondWare Ltd.Nortel said that it will work Avaya to close the sale later this year, subject to the timing of regulatory approvals. The sale close is expected late in the fourth quarter