RIM shut out of Nortel asset auction
Research in Motion is calling on the Canadian government to review the auction of Nortel Network's assets claiming it was shut out of bidding for the troubled network hardware maker's wireless properties.
Research in Motion is calling on the Canadian government to review the auction of Nortel Network's assets claiming it was shut out of bidding for the troubled network hardware maker's wireless properties.
As expected, Nortel has entered into a "stalking horse" asset and share sale agreement with Avaya for its Enterprise Solutions business.
A private equity firm bidding for all of Nortel is reportedly assembling a management team for the company led by a former Nortel executive.
Former Bay Networks CEO Dave House says he likes the idea of Nortel's enterprise data division -- built around Bay technology -- breaking free and picking up its old name.
Businesses might not want to buy enterprise network gear from bankrupt Nortel, but how about from Bay Networks?
If Avaya buys up Nortel’s enterprise properties, the new entity will have product overlap issues but they’ll be overshadowed by something more important: customers.
Nortel is reportedly close to selling its enterprise division to Avaya for US$500 million.
In light of the overall economy and Nortel's particular situation, the former telecom giant had little choice but to liquidate its assets as it attempts to restructure under Chapter 11, analysts say.
Nortel Networks has entered into an agreement with Nokia Siemens Networks to sell its its wireless network infrastructure business assets for $US650 million, it said on Friday.
Nortel customers remain optimistic despite the company's precarious situation, officials of Nortel's largest enterprise user group said this week.
Former Nortel executives want to buy the beleaguered company, but need a US$1 billion loan from the Canadian government, according to reports from Canada.
Nortel Networks CEO Mike Zafirovski today said the equipment maker is beginning to see revenue and cash balance stability, even as the company reported a 37 per cent drop in revenues during the first quarter compared to the same period a year ago.
Nortel is reportedly looking to sell off its stake in a joint venture with Korean telecom company LG in an effort to raise cash.
Nortel Wednesday is announcing a second offering in its family of NAC products, a software platform that runs only on virtual servers and is intended for deployment in heterogeneous networks.
Nokia Siemens Networks, Avaya and Siemens Enterprise Communications are moving in to buy parts of troubled Nortel Networks, the Wall Street Journal reported Wednesday, citing unnamed sources.