Feeds

Nokia Siemens grabs Nortel's wireless biz

Everything must go in Nortel fire sale

Security for virtualized datacentres

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. ®

Security for virtualized datacentres

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.