Genband, a developer of next-generation IP infrastructure solutions, announced that it has entered into an agreement with Nortel to acquire substantially all of the assets of its Carrier VoIP and Application Solutions Business (CVAS) globally, for a purchase price of $282 million and a total cost of ownership in excess of $400 million.
The proposed transaction combines Genband’s next-generation access, trunking, session and security gateway technology and Nortel’s widely used soft switch and application technology.
In a press release, Genband said its vision behind the acquisition will be to institute open standards, open interfaces, promote interoperability and continue to build on its global OEM business partner relationships.
Genband has teamed with one of its existing shareholders, One Equity Partners (OEP), to purchase the Nortel assets. Established in 2001, OEP manages $8 billion of investments and commitments for JPMorgan Chase & Co. in direct private equity transactions.
Filed Under: Infrastructure