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Avaya acquires DiamondWare from Nortel NetworksDec 21, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- Avaya, Inc. has acquired DiamondWare, Ltd., a provider of 3D positional voice technology to virtual web and voice communications, from Nortel Networks Corporation. Both Avaya and DiamondWare are based in the US, while Nortel Networks is based in Canada. Announcement (September 14, 2009): Avaya has won a bid to acquire DiamondWare from Nortel Networks. Both Nortel Networks and Avaya are providers of communication systems, applications and services for businesses, government agencies and other organizations. Simultaneously, Avaya will also acquire substantially all the assets of Nortel Networks' global enterprise solutions business as well as the shares of Nortel Government Solutions Incorporated for a combined value of $900 million in cash, with an additional pool of $15 million reserved for an employee retention program. Weil, Gotshal & Manges LLP is acting as legal advisor to Avaya on this transaction. Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2009-12-18 Deal Participants Target (Company) DiamondWare, Ltd. Acquirer (Company) Avaya, Inc. Vendor (Company) Nortel Networks Corporation Deal Rationale The transaction would strengthen the position of Avaya to deliver enhanced enterprise communications solutions to customers. |