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  40º

05/29/2010 10:42 AM

Nortel Networks sold to Genband

By: News 14 Carolina Web Staff

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RALEIGH -- Texas-based Genband is now the owner of Nortel Networks and the employer of more than 500 people in the Triangle.

Nortel has been reorganizing under bankruptcy and with Friday’s closing of its $282 million sale. Genband takes over the company's voice-over IP and applications solutions business.

Other than the planned 500 employees in RTP, Genband did not announce employment figures for North Carolina.