Feeds

Nokia Siemens grabs Nortel's wireless biz

Everything must go in Nortel fire sale

Combat fraud and increase customer satisfaction

Nokia Siemens Networks (NSN) is buying the wireless business of Nortel, the bankrupt Canadian network equipment maker, for $650m.

It picks up a major CDMA franchise - Nortel supplies three of the world's five biggest CDMA mobile network operators - and "at least 2,500 employees... [This] represents a significant portion of the employees associated with the assets being sold", says Nortel.

NSN also gains some intellectual property in LTE (Long Term Evolution), a fast mobile network technology that some describe as 4G.

The asset sale is presented as a "stalking horse" agreement under Delaware bankruptcy law, which means that rivals could ambush the deal with a higher offer. The Canadian government is sweetening the deal with a $300m loan guarantee.

Nortel, which filed for bankruptcy protection in January, is "advancing in its discussions with external parties to sell its other businesses". If it doesn't get good enough prices it will mull over restructuring alternatives. But it looks like it's all over bar the negotiating.

It is also delisting shares from trading on the Toronto Stock Exchange. The company has more to say here. ®

Top three mobile application threats

More from The Register

next story
Virgin Media so, so SORRY for turning spam fire-hose on its punters
Hundreds of emails flood inboxes thanks to gaffe
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
AT&T dangles gigabit broadband plans over 100 US cities
So soon after a mulled Google Fiber expansion, fancy that
AT&T threatens to pull out of FCC wireless auctions over purchase limits
Company wants ability to buy more spectrum space in auction
Google looks to LTE and Wi-Fi to help it lube YouTube tubes
Bandwidth hogger needs tube embiggenment if it's to succeed
Turnbull gave NBN Co NO RULES to plan blackspot upgrades
NBN Co faces huge future Telstra bills and reduces fibre footprint
NBN Co plans fibre-to-the-basement blitz to beat cherry-pickers
Heading off at the pass operation given same priority as blackspot fixing
NBN Co in 'broadband kit we tested worked' STUNNER
Announcement of VDSL trial is not proof of concept for fibre-to-the-node
prev story

Whitepapers

Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.