Cable / Telecom News

Genband buys Nortel’s CVAS business


TORONTO - Nortel Networks has agreed to sell its carrier VoIP and application solutions (CVAS) business to Genband Inc. for a net purchase price of approximately $182 million.Nortel said Wednesday that it would not proceed with an auction of its CVAS business as it announced in December, but would instead work to close the sale with Genband in the second quarter of 2010, subject to regulatory approvals. Under the terms of the agreements, the purchase will include substantially all product platforms, patents, and other IP exclusively used in Nortel's CVAS business, including softswitching, gateways, SIP applications, and TDM products and...