<div id="subtitle">Nortel agrees to sell Carrier Voice over Internet Protocol unit to Genband for $282 million</div><div><p>Nortel Networks Corp. said Wednesday it has agreed to sell nearly all the assets of its Carrier Voice over Internet Protocol and Application Solutions business globally to Genband Inc. for $282 million.</p><p>Nortel, based in Toronto, has been selling its operations piece by piece since filing for creditor protection in January.</p><p>Nortel's assets in North America, the Caribbean, Latin America and Asia are being offered under a "stalking horse" asset sale agreement, in which a debtor tries to maximize the value of its assets before a bankruptcy auction.</p><p>The company said "a significant majority" of the division's employees will have the opportunity to work for Genband.</p><p>Genband Inc., based in Plano, Texas, is a provider of Internet protocol multimedia and infrastructure products.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=65909465&bid=informcom" /></div><div id="copyright"><div>

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