Avaya Finally Completes Nortel Enterprise Buy
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After facing down Canadian regulators and Verizon in the U.S., Avaya today completed its purchase of Nortel Networks' Enterprise business unit. Now that it has the division and paid handsomely for it, what are Avaya's plans? Enterprise Networking Planet finds out.
Nearly six months after making its first public bid for Nortel's Enterprise assets, Avaya has now finally officially closed the deal.
Avaya's acquisition attempt for Nortel Enterprise faced multiple hurdles before it reached its conclusion. At various points, the deal encountered opposition from other bidders, from Nortel customers and even from the Canadian government.
Nortel has been under bankruptcy protection since the beginning of 2009 and has been selling off its assets ever since.
Avaya made an initial bid of $475 million to acquire Nortel Enterprise in July. Since Nortel is under bankruptcy protection, Avaya's offer was a "stalking horse" bid, which means that Avaya set the floor price for an auction under which other vendors could try and outbid the company.