GENBAND announces that its agreement with Nortel to acquire substantially all assets of Nortel's Carrier VoIP and Application Solutions Business has been approved by bankruptcy courts in Canada and the United States.

GENBAND announced on Dec. 23, 2009 that it will purchase substantially all CVAS product platforms, all patents predominantly used and other IP exclusively used in Nortel’s CVAS business, including softswitching, gateways, SIP applications and TDM products and services. The agreement also provides for the transition of substantially all of Nortel's CVAS customer contracts to GENBAND. GENBAND anticipates closing the sale in the second quarter of 2010, which is subject to the satisfaction of customary closing conditions.

The approved acquisition, upon closing, will combine GENBAND’s next-generation media, session and security gateway technologies and Nortel CVAS’s softswitch, media gateway and application technologies, offering service providers a best-in-class, end-to-end switching and global services portfolio.