Nortel Networks has entered into an agreement to sell its Voice over IP and Application Solutions for $282 million (US). Nortel has a "stalking horse" asset sale agreement with GENBAND for the sale of substantially all of the assets of its North America, Caribbean, Latin America and Asia Carrier VoIP and Application Solutions business, and an asset sale agreement with GENBAND for the sale of substantially all of the assets of the Europe, Middle East and Africa portion of its CVAS business, subject to balance sheet and other adjustments. These agreements include the planned sale of substantially all assets of the CVAS business globally including softswitching, gateways and SIP applications.

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Verizon, NYC Reach Settlement

Verizon has an agreement with New York City that settles proceedings against it after the city claimed it had failed to meet buildout terms for its Fios network under its cable franchise agreement.

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