Enterprise Minister Arlene Foster has welcomed the announcement, by Avaya, that it has acquired Nortel Networks Ltd global Enterprise Division.
Nortel Networks employs approximately 350 people in Monkstown and since entering administration earlier this year, core elements of the business have been actively marketed to potential investors.
The Minister said: "The announcement that a global telecoms corporation has acquired Nortel’s Enterprise Division is extremely positive news for Nortel and the workers at Monkstown.
"Working with Invest Northern Ireland, Nortel has worked to position the three core elements of its NI operations attractively to potential investors. The acquisition will see approximately 40% of the Monkstown workforce transfer to Avaya with immediate effect.
"I understand that the remaining elements of Nortel’s business have successfully been auctioned to other major international telecommunications companies, and those deals are currently progressing through the necessary regulatory clearances. Invest NI is working to profile the strength of the company’s local capabilities to ensure the best possible outcome.
"I am confident that moving forward a strong partnership can be formed with Avaya which will lead to the company recognising Northern Ireland as a competitive location from which to serve their European customer base and grow the scale and scope of international operations."