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01 Apr 2009
Nortel has completed the sale of its Alteon application delivery arm and is reportedly now drawing bids for its corporate network business.
The $18m (£12.5m) transaction with Israeli vendor Radware includes Alteon’s products, certain related intellectual property assets, inventory and service contracts and an unspecified number of employees.
A five-year product support plan will be implemented immediately for all Alteon customers, which Radware said reinforces its commitment to the product line.
Further reading
The move comes as Bloomberg reported Nortel may this week be accepting bids for its corporate network business. The unit is worth about $500m and the auction is being handled by Lazard, according to the news agency. Avaya and Siemens Enterprise Communications are said to be among the potential bidders.
Nortel filed for bankruptcy protection in January after losing close to $7bn over the last two years.
Roy Zisapel, chief executive of Radware, said its acquisition of Alteon would allow it to provide customers with the next generation of application delivery controller (ADC) solutions.
“We look forward to working with our customers and providing them with the most technology-advanced solutions available in the ADC market,” he said.
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