Bankrupt has sold its multi service switch business to Ericsson for $65 million.

The sale is the latest in Nortel’s liquidation process. Approval by bankruptcy courts is still required.

The telecommunications gear maker once was one of the largest employers in RTP with more than 8,000 workers.

Ericsson and Nortel announced the latest sale on Saturday.

The deal includes the switch business, an associated data packet network and the Shasta services edge router business as well as customer contracts and intellectual property.

“Substantially all MSS employees will have the opportunity to continue their employment with Ericsson, including those in certain EMEA [Europe, Middle East, Africa] jurisdictions who will transfer to Ericsson by operation of law,” Nortel said.

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