Nortel announced that it has completed the sale of all of the global assets of Nortel’s Carrier VoIP and Application Solutions (CVAS) business to GENBAND, Inc. (GENBAND) for a purchase price of US$282 million, less balance sheet and other adjustments of approximately US$100 million for a net purchase price of approximately US$182 million, which is subject to post-close working capital adjustments

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Nortel announced that it completed the sale of substantially all of the global assets of Nortel's GSM/GSM-R business. Telefonaktiebolaget LM Ericsson ("Ericsson") and Kapsch CarrierCom AG ("Kapsch") have purchased the businesses for US$103 million in cash subject to working capital adjustments.

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Nortel Selects Ericsson and Kapsch as Successful Bidders for GSM/GSM-R Business (November 25) »
Nortel Announces the Auction Date for the Sale of its GSM/GSM-R Business (November 23) »
Nortel Provides Update on Auction Date for the Sale of its GSM/GSM-R Business (November 19) »
Nortel Provides Update on Auction Date for the Sale of its GSM/GSM-R Business; Obtains Further Extension of Stay Period Under CCAA; and Obtains Canadian and U.S. Court Approval for Sale of Packet Core Assets (October 28) »

Nortel announced that it has concluded a successful auction of substantially all of the assets of Nortel's global Optical Networking and Carrier Ethernet businesses. Ciena has emerged as the winning bidder with a purchase price of US$530 million in cash plus US$239 million principal amount of convertible notes due June 2017.

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Nortel Selects Ciena as Successful Bidder for Optical Networking and Carrier Ethernet Businesses (November 23) »
Nortel Provides Update on Auction Date for the Sale of its Optical Networking and Carrier Ethernet Businesses (November 18) »
Nortel Provides Update on Auction for the Sale of its Optical Networking and Carrier Ethernet Business (November 13) »

Nortel Networks Corporation today announced that, it, its principal operating subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries, including Nortel Networks Inc. and Nortel Networks UK Limited (in administration), will not proceed to auction and will work towards closing the asset sale agreements with GENBAND, Inc. (GENBAND) which were previously announced on December 23, 2009. The agreements provide for the sale of substantially all of the global assets of Nortel’s Carrier VoIP and Application Solutions (CVAS) business for a purchase price of US$282 million, subject to balance sheet and other adjustments currently estimated at approximately US$100 million for a net purchase price of approximately US$182 million.

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Nortel to Sell Carrier VoIP and Application Solutions Business (December 23) »
Nortel Obtains Canadian and U.S. Court Approval of Stalking Horse Agreement and Bidding Procedures for Sale of Carrier VoIP and Application Solutions Business (January 6) »

Nortel announced it has completed the sale of substantially all of the assets of Nortel's global Enterprise Solutions business as well as the shares of Nortel Government Solutions Incorporated and DiamondWare, Ltd. to Avaya Inc.

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  Provides additional information regarding the September 14th announcement.
• Read IDC's Event Flash - "Avaya Wins Nortel Enterprise Asset Auction"

Nortel Selects Avaya as Successful Bidder for Enterprise Solutions Business (September 14) »
Nortel To Sell Enterprise Solutions Business (July 20) »

Nortel announced that it has completed the sale of the assets of its Carrier Networks business associated with the development of Next Generation Packet Core network components (Next Generation Packet Core Assets) to Hitachi Ltd. for a purchase price of US$10 million

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Nortel Provides Update on Auction Date for the Sale of its GSM/GSM-R Business; Obtains Further Extension of Stay Period Under CCAA; and Obtains Canadian and U.S. Court Approval for Sale of Packet Core Assets (October 28) »
Nortel Enters into Agreement for Sale of Certain Next Generation Packet Core Network Components (October 26) »

Nortel announced today that it, its principal operating subsidiary Nortel Networks Limited, and certain of its other subsidiaries including Nortel Networks Inc., have completed the sale of substantially all of Nortel’s CDMA Business and LTE Access assets to Telefonaktiebolaget LM Ericsson (Ericsson) for a purchase price of US$1.13 billion

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Nortel and Ericsson Amend Asset Sale Agreement To Provide For Closing Date Extension (October 30) »
Nortel Selects Ericsson as Successful Bidder For CDMA Business and LTE Access Assets (July 25) »
Nortel Statement on Wireless Asset Auction (July 22) »
Nortel To Sell CDMA Business and LTE Assets; Company Advancing in Its Discussions With External Parties To Sell Other Businesses (June 19) »

February 8, 2010 - Nortel Enters into Settlement Agreement with Former and Disabled Canadian Employee Representatives »

January 21, 2010 - Nortel Obtains Further Extension of Stay Period Under CCAA and Obtains Canadian and U.S. Court Approvals for Inter-Company Funding Agreement »

December 23, 2009 - Nortel Announces Inter-company Funding Agreement and Settlement of Certain Inter-company Claims »

December 18, 2009 - Nortel Obtains Further Extension of Stay Period Under CCAA »

October 28, 2009 - Nortel Provides Update on Auction Date for the Sale of its GSM/GSM-R Business; Obtains Further Extension of Stay Period Under CCAA; and Obtains Canadian and U.S. Court Approval for Sale of Packet Core Assets »

September 21, 2009 - Nortel Plans Sale of Assets of Next Generation Packet Core Network Components »

August 10, 2009 - Nortel Announces Board of Directors, Management Team and Organizational Changes »

August 10, 2009 - Nortel Reports Financial Results for the Second Quarter 2009 »

July 30, 2009 - Nortel Obtains Further Extension of Stay Period Under CCAA »

July 28, 2009 - Nortel Obtains Canadian and U.S. Court Approvals for Sale Agreement with Ericsson for CDMA Business and LTE Access Assets for Purchase Price of US$1.13 Billion »

July 25, 2009 - Nortel Selects Ericsson as Successful Bidder For CDMA Business and LTE Access Assets »

July 22, 2009 - Nortel Statement on Wireless Asset Auction »

July 20, 2009 - Nortel To Sell Enterprise Solutions Business »

June 19, 2009 - Nortel To Sell CDMA Business and LTE Assets; Company Advancing in Its Discussions With External Parties To Sell Other Businesses »

May 27, 2009 - Nortel to Seek Buyer for Stake in LG-Nortel Joint Venture »

May 11, 2009 - Nortel Reports Financial Results for the First Quarter 2009 »

April 28, 2009 - Nortel Obtains Extension of Stay Period Under CCAA and Extension to EDC Agreement »

March 31, 2009 - Nortel Completes Divestiture of Certain L4-7 Data Assets to Radware »

February 25, 2009 - Nortel Announces Workforce Reductions »

February 19, 2009 - Nortel to Divest Layer 4-7 Data Portfolio »

February 10, 2009 - Nortel Obtains Extension of Stay Period Under CCAA And Extension to EDC Agreement »

January 16, 2009 - Nortel Obtains Approvals From U.S. Court »

January 14, 2009 - Nortel Obtains Court Orders for Creditor Protection »

January 14, 2009 - Nortel Commences Comprehensive Business and Financial Restructuring »

Canada:
For further information regarding the CCAA proceedings in Canada, you can contact Ernst & Young Inc. ("E&Y") on its website www.ey.com/ca/nortel or by phone at 1-866-942-7177 in Canada or the U.S., otherwise 1-416-943-4439. E&Y has been appointed by the Canadian court to be the Monitor in the CCAA proceedings.

United States:
For further information on the claims process in the U.S. and other information concerning the chapter 11 proceedings, you can contact the U.S. claims agent, Epiq Bankruptcy Solutions, LLC, at 1-866-897-6435 or go to the U.S. claims agent website at http://chapter11.epiqsystems.com/nortel.

For Europe: please visit the EMEA Restructuring page.