Brocade taps industry veteran Carney as CEO
Brocade has named former Xsigo Systems CEO Lloyd Carney as its new top executive effective immediately.
Brocade has named former Xsigo Systems CEO Lloyd Carney as its new top executive effective immediately.
Microsoft has agreed to pay US$7.5 million to purchase a block of 666,624 IPv4 addresses from bankrupt Canadian telecomms equipment maker Nortel Networks in a move that some see as a signal of the increasing value of IPv4 addresses.
Ciena has agreed to acquire Nortel's Metro Ethernet Networks business for approximately US$521 million in cash and stock.
The biggest issue facing Nortel enterprise customers on the heels of Avaya's US$900 million purchase of that business is product overlap, consolidation and subsequent support, analysts say.
Avaya has emerged as the winning bidder for Nortel’s enterprise business, reportedly beating out Siemens Enterprise Communications over the weekend.
Despite marked increases in revenue and gross profit for the year ended 31 December 2008, Nortel’s local business posted an overall loss of $2.3 million for the period — greater than the previous year’s loss of $1.59 million.
Nortel CEO Mike Zafirovski stepped down Monday, having failed to revitalize the bankrupt telecommunications giant after a mid-decade accounting scandal and the current economic downturn.
Nortel Networks' CEO Mike Zafirovski will leave the troubled provider of telecommunications equipment in the coming weeks, The Wall Street Journal reported on Saturday, citing anonymous sources.
Sweden's LM Ericsson has won the bidding war over the wireless assets of Nortel Networks, agreeing to pay US$1.13 billion for the financially beleaguered Canadian company's CDMA business and LTE Access technology.
Nortel's liquidation of its assets could possibly gut the 3-year-old unified communications partnership the company has with Microsoft.
Nortel Networks has entered into an agreement with Nokia Siemens Networks to sell its its wireless network infrastructure business assets for $US650 million, it said on Friday.
Nortel Networks Wednesday said it will lay off 3,200 workers in addition to 1,800 layoffs previously announced as it undergoes a restructuring that is part of its Chapter 11 bankruptcy filing in the US and a similar creditor protection filing in Canada.
Nortel Networks is selling application delivery technology to Radware for US$17.65 million (NZ$34.4. million), a fraction of the US$6 billion-plus price it paid for its developer, Alteon WebSystems, in 2000.
Global restructuring has forced Nortel to cut back its trans-Tasman team.
Nortel Networks has filed for Chapter 11 in US bankruptcy court.