Cable / Telecom News

Nortel completes sale of CVAS business to Genband


TORONTO – Nortel Networks has finalized the sale of its carrier VoIP and application solutions (CVAS) business to Genband Inc. The company reported that the deal closed for US$282 million, less balance sheet and other adjustments of approximately US$100 million for a net purchase price of approximately US$182 million, subject to post-close balance sheet and other adjustments."Today's announcement represents another successful milestone while preserving Nortel's Carrier VoIP technology innovation and base of highly skilled employees," said George Riedel, Nortel’s president and chief strategy officer, in a statement. "The sale of our CVAS business to Genband enables our global service provider...