TORONTO – Nortel Networks has abandoned plans for a competitive auction of its voice-over-Internet business unit and will work to complete a sale to Genband Inc., which is expected to offer jobs to about 2,000 of the unit’s employees.
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TORONTO – Nortel Networks has abandoned plans for a competitive auction of its voice-over-Internet business unit and will work to complete a sale
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TORONTO – Nortel Networks has abandoned plans for a competitive auction of its voice-over-Internet business unit and will work to complete a sale to Genband Inc., which is expected to make job offers to many of the current employees
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Nortel Networks, just over a year into its bankruptcy, is selling off its last significant business with Genband’s $182 million bid to buy Nortel’s VOIP business. Nortel over the past few months already had sold off the bulk of its units, including its wireless and enterprise businesses.
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GENBAND Inc. is the winning bidder for bankrupt Nortel Networks’ carrier VoIP assets – because there were no other bidders. Companies interested in vying for the Nortel division at auction were required to submit offers by last night. But GENBAND was the only one.
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