Nortel to Sell Multi Service Switch Business
• Enters into sale agreements for Multi Service Switch business with PSP Holding LLC, a special purpose entity to be fully funded at closing by Marlin Equity III, L.P for US$39 million in cash
• Agreements include the planned sale of substantially all assets within the Multi Service Switch business globally
Nortel Reports Financial Results for the Second Quarter 2010
Nortel Networks Corporation announced its results for the second quarter 2010. Results were prepared in accordance with United States generally accepted accounting principles (GAAP) in U.S. dollars.
Nortel Completes Sale of Carrier VoIP and Application Solutions Business to GENBAND
Nortel announced that it has completed the sale of all of the global assets of Nortel’s Carrier VoIP and Application Solutions (CVAS) business to GENBAND, Inc. (GENBAND) for a purchase price of US$282 million, less balance sheet and other adjustments of approximately US$100 million for a net purchase price of approximately US$182 million, which is subject to post-close working capital adjustments