Enterprise Communications solution provider, Avaya today said that it has been selected to acquire bankrupt company, Nortel’s enterprise business division for $ 900 million. It will also have to shell out additional  $ 15 million for employee retention program.

The deal is now subject to approvals from court and relevant regulatory agencies in Canada and United States.

 “Our successful bid brings us closer to adding Nortel and its complementary channel, portfolio, research and development, and global presence to Avaya,” said Kevin Kennedy, president and CEO, Avaya.  “We believe the acquisition brings inherent value to both organizations’ customers, employees and partners, and we look forward to its successful conclusion."