Bankrupt gearmaker Nortel has just inched closer to becoming a gearmaker no more. On Dec. 23, the company announced a preliminary agreement to sell a unit that makes software and gear for making cheap Web calls to Genband for $282 million, a sum that is subject to adjustment.
Canadian handset maker Research In Motion alleges that Nortel offered it different terms to buy Nortel’s wireless equipment business than the terms that were presented to ultimate auction winner Ericsson. And Canadian government is listening.
On July 20, BlackBerry maker Research In Motion disclosed that “it has effectively been prevented from submitting an offer for the Nortel Networks Wireless Business.” But why does RIM want the assets in the first place?
On July 20, bankrupt telecom gearmaker Nortel announced that it will sell its enterprise solutions business to Avaya for $475 million. But will the deal actually go through?
On June 19, telecom gearmaker Nortel Networks announced it will sell some of its key assets to Nokia Siemens. The company also said “that it is advancing in its discussions with external parties to sell its other businesses.”
On May 11, Nortel reported yet another quarter of disastrous results — results that could, potentially, further pressure prices of business units the company has up for sale. Revenues, at $1.73 billion, were down 37% year over year. The company lost $507 million in the quarter.
BusinessWeek writers Peter Burrows, Cliff Edwards, Olga Kharif, Aaron Ricadela, Douglas MacMillan, and Spencer Ante dig behind the headlines to analyze what’s really happening throughout the world of technology. One of the first mainstream media tech blogs, Tech Beat covers everything from tech bellwethers like Apple, Google, and Intel and emerging new leaders such as Facebook to new technologies, trends, and controversies.