Featured Video, News

Microsoft to build duo of UAE data centres

0 71Microsoft has announced plans to build its first Middle East and North Africa data centres in Dubai and Abu Dhabi.
Don't show me again

Offer for Nortel's carrier VoIP business seen as near

Nortel is reportedly close to receiving an offer for its Carrier VoIP business.

A Nortel executive in charge of the operations was quoted in Canada's Financial Post, saying the company is on the verge of receiving a “stalking horse” bid for the business, which includes softswitches, media gateways and applications. Stalking horse bids are initial offers for assets that essentially set a floor price before auction.

Nortel just sold its CDMA and LTE wireless assets to Ericsson under such an arrangement, for $1.13 billion. Avaya has a $475 million stalking horse bid for Nortel's enterprise business, which goes on the auction block Sept. 11.

“We are very close to getting a stalking-horse [first-offer] bid, which will provide clarity on the situation,” said Samih Elhage, president of Nortel's Carrier VoIP and Applications Solutions business in the Financial Post article.

A Nortel spokesperson said the company had nothing to add beyond the report.

Likely bidders include competitors Nokia Siemens, Sonus, Ericsson, Huawei and Alcatel-Lucent, the article states.

Carrier VoIP and Applications Solutions, which employs 2,500 people, is a $800 million business and is profitable, according to the story. The business represents about 10% of Nortel's overall $8 billion in annual revenue.

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *


The free newsletter covering the top industry headlines