Nortel delays GSM mobile business auction, receives OK for Hitachi sale
Nortel
Related Blog Posts
- Another piece of Nortel is sold – wireless data technology for $10M to Fujitsu
- Ciena receives approval for $532M Nortel optical, Ethernet business unit bid
- Ciena offers $521 million for Nortel’s optical networking business
- Nortel's next piece for sale at auction – GSM wireless business
On The Web
Site Search
Get the latest news alerts: Follow LTW at Twitter.
Local Tech Wire
RESEARCH TRIANGLE PARK, N.C. – Nortel is pushing back the auction date for its GSM (Global System for Mobile communications) business unit to Nov. 20 from Nov. 9, the bankrupt telecommunications gear maker said Wednesday.
Also Wednesday, Nortel said it had received approval from bankruptcy courts in the U.S. and Canada for a $10 million sale of some assets to Hitachi. That deal was announced last week.
Nortel, which employs some 1,700 people in RTP, is auctioning off and selling business units as it dissolves under court protection.
Bidders can submit offers for the GSM business by Nov. 16.
The Hitachi sale involves next generation so-called core networks technology for use in wireless networks.
Featured
Hot Off The Wire
- Red Hat's new Fedora lead; Cree LED breakthrough; Google, Cisco top 'green' list; Oracle rejects SAP settlement; Yahoo board shakeup
- Will Cisco report progress in its turnaround efforts?
- Cisco server fire threat; Lenovo Android upgrade; cloud startup vs. Cisco; Epic's Blesinski to host awards; Google 'Solve for X'
E-mail Preferences
The Skinny
- Groundwork Labs refocuses mission as Triangle Startup Factory nears launch
- Epic Games' Tim Sweeney reaps arts Hall of Fame honor today
- Charlotte's startup efforts pick up steam as more data pours in
- 'Battle in Bay 7' returns - Are you techies ready for some basketball?
- Inside RTP's new angel fund: Founders meeting 'significant' need
- Who won 'Social Bowl'? Super Bowl ads paying fans to play
- RTP broadband firm Overture, minus two top execs, launches new look
- Will RTP-based ChannelAdvisor go public? They're thinking
- What brands are winning Super Bowl hype? Two Durham firms to find out
- In Super Bowl of social media, Patriots win, Triangle firm says