LOCAL TECH WIRE

RESEARCH TRIANGLE PARK, N.C. – , a provider of networking solutions, has closed on its purchase of “substantially all assets” of bankrupt Voice over Internet Protocol business.

The Nortel Carrier VoIP and Application Solutions operation did have employees in RTP.

“Significant Majority of Nortel CVAS employees are joining Genband,” Nortel said in a statement.

Genband, which announced the close of the deal, is based in Plano, Texas.

In March, bankruptcy courts in the U.S. and Canada approved the Nortel CVAS unit sale to Genband.
The deal was worth $282 million minus what Nortel called $100 million in adjustments, leaving the telecommunications gear maker with $182 million.

Nortel is in the process of liquidating most of its assets.

Genband said the deal provides it with VoIP-related product and service support facilities in Ottawa, Canada; North Carolina; Massachusetts; and China.

“Nearly 100% of all employment offers extended to Nortel CVAS employees have been accepted,” Genband said in a statement.

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