More than 500 former Nortel Networks employees at Research Triangle Park are now part of Genband, the Texas technology company that closed on a key Nortel business unit last week.
Genband said that nearly 100 percent of the workers in Nortel's Carrier VOIP and Applications Solutions unit have agreed to join Genband as part of the $282 million acquisition. The Nortel CVAS unit bought by Genband had 2,500 workers worldwide. By acquiring the unit, Genband grew its workforce from about 500 to about 3,000.
The finalization of the deal on Friday makes RTP one of Genband's principal sites, along with Texas, Ottawa and others. On Tuesday Genband will make further announcements about the company's combined executive team and other strategic decisions.
"Raleigh will be one of the biggest and most strategic locations Genband has and will continue to be a center of excellence as Genband’s global support and service location with more than 500 people located there," Mehmet Balos, Genband's Executive Vice President and Chief Executive Officer, said in a statement.
Genband specializes in Internet Protocol equipment that's used to transmit phone calls, e-mails and other data. Nortel's CVAS unit specialized in voice over Internet protocol.
Genband said it now has vast resources in research and development, sales and support, spanning 46 countries. The company's customers include Verizon and AT&T, two of this country's biggest telecommunications providers.
Genband made a stalking horse bid for the unit in December, 11 months after Nortel had sought bankruptcy protection. At its peak about a decade ago, the Canadian telecommunications gear maker employed about 10,000 at its RTP site.