Nortel is long in news now. Earlier, we have talked about Avaya’s plan with Nortel. And today that fate of Nortel has been taken further, Ericsson has won the bidding over the wireless division of Nortel Networks, agreeing to pay US$1.13 billion for Nortel’s CDMA business and LTE Access technology 4G. How does it Benefit Ericsson? The deal will greatly expand Ericsson’s foothold in North America, bringing customer relationships with large operators such as Verizon and Sprint. Read further »

Nortel was once among the most powerful Telecom euipment manufacturer. This Canada-based company once had a stock quote of $240/share. Industry had worst for Nortel, It went down to as low as few cents recently. After struggling for years and Filing Bankruptcy under chapter 11, Nortel was desperately looking for a total Overhaul and an Interested Investor. Today, the leaders finally found a breath of relief. Nortel finally finds a hope. Nortel has entered into a “stalking horse” asset and share sale agreement with Avaya for its Enterprise Solutions business. After almost a month of ongoing discussions, the proposed amount has been set to $475 million by Nortel. As per the agreement : It includes the planned sale of substantially all of the Read further »

Nortel Networks, once a high-flying telecommunications equipment maker, filed for Chapter 11 bankruptcy protection Wednesday. Nortel has been recent credit crunch may end up as the death knell for the company, making it difficult for Nortel to fund its operations. At the same time, customers have also pulled back drastically on spending for the company’s Read further »