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Category Archives: M&A
Hitachi Acquisition Completed
Hitachi’s $10-million purchase of Nortel’s Next Generation Packet Core Assets has been completed after approval from bankruptcy courts in the U.S. and Canada. “These products support the transfer of data over existing wireless networks and the next generation of wireless communications technology,” Nortel said in a statement. “The assets include relevant non-patent intellectual property, equipment [...]
Also posted in Financials 3 Comments
Path Cleared for Ciena-MEN Deal
Nokia Siemens Network’s efforts to make a higher bid for Nortel’s optical and Ethernet business were rejected by Delaware and Ontario courts, paving the way for Ciena to complete its $769-million purchase. NSN wanted to make a $810-million bid, claiming that the $239-million of convertible debt offered by Ciena was too risky compared with its [...]
A Fight for MEN?
The sale of Nortel’s metro ethernet and optical business to Ciena may not be a fait accompli. According a Nokia Siemens Networks spokesman Barry French, the company plans to file an objection in bankruptcy court, and it is prepared to increase its bid to $810-million. The issue hinges on NSN’s contention that the $239-million in [...]
Also posted in Financials 56 Comments
Why the Low Price for GSM Business?
Earlier this week, Nortel sold its GSM and GSM-R business units for $103-million – Ericsson paid $70-million for the North American assets, while Kapsch paid $33-million for everything. Now, $103-million is nothing to sneeze at but it seems like a relatively small number given the GSM business had revenue of $1.36-billion in 2008. Of that [...]
Nortel’s M&A Scorecard
Update: The auction of the GSM/GSM-R business is being held today. It has been nearly a year since Nortel filed for bankruptcy protection, and five months since the company announced it was going to sell all of its assets instead of attempting to emerge as the New Nortel. Here’s a scorecard of what’s been sold, [...]
VoIP Bids Coming Soon