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Believe It or Not: Nortel Buys Something
By Mark Evans | August 4, 2008
For the first time more than two years, Nortel has made an acquisition by coughing up $26-million for Novera Optics, which makes low-cost, high-performance optical access technology based on WDM-PON (Wavelength Division Multiplexed Passive Optical Network) technology.
Novera sells into markets such as FTTB (Fiber-To-The-Building) and FTTC (Fiber-To-The-Curb) extensions, MxU (Multi-Dwelling and Multi-Tenant Units), RT (Remote Terminals), and the CO (Central Office).
This is the first acquisition made by Nortel since it picked up Tasman Networks in December 2005 for $99-million. It must have been a joy for George Riedel, who was lured away from Juniper Networks in 2006 to make strategic deals.
In March 2006, Novera raised $7.4 million Enterprise Partners, Redpoint Ventures, Octane Capital Management, KTB Ventures, Meritech Capital Partners, and Saints Ventures.
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Topics: M&A |