EU Approves Nortel Sale

Kate Yule
Thursday, November 19, 2009

The acquisition of Nortel assets by Avaya is another step closer to being finalized.

The European Commission has cleared the sale of Nortel’s enterprise solutions business to Avaya, Inc.

The $900 million deal between Nortel and the New Jersey-based Avaya was announced back in September.

Avaya had originally bid $475 million, but had to up their offer in order to win an auction that began on September 11.

The deal has already been given the green light by Canadian and American regulators.

It is still awaiting additional regulatory reviews, and is expected to close in December.