Nortel's application switch product line came through its acquisition of Alteon WebSystems in 2000. Assets covered by the agreement include products, intellectual property, and certain tangible assets and service contracts.
Radware will also take on some employees and the products will be taken to market under the Radware Alteon brand. Nortel has filed a motion to establish bidding procedures to allow other parties to submit better offers.
Radware claimed it intends to invest in marketing and development of the products and is offering a five-year product support plan. Radware chief executive Roy Zisapel said: "Our ultimate goal is to provide customers with a stronger, integrated product backed by world-class support and a globally-focused organisation. We are committed to making this transaction seamless for existing customers and intend to take the necessary steps to ensure zero disruption to their business when the transfer occurs.”
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