
GENBAND reached an agreement to acquire substantially all of the assets of Nortel's Carrier VoIP and Application Solutions (CVAS) business for a purchase price of US$282 million, subject to balance sheet and other adjustments currently estimated at approximately US$100 million. The deal is a "stalking horse" arrangement subject to additional bids and requires U.S. and Canadian court approvals for bidding procedures, including a bid deadline and...