Nortel completes sales of wireless assets to Hitachi for $10 million

Posted Dec. 9, 2009 at 6:51 a.m.

Nortel completes sales of wireless assets to Hitachi for $10 million

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RESEARCH TRIANGLE PARK, N.C. – Another piece of Nortel Networks has a new owner.

Hitachi has closed on the acquisition of Nortel’s Next Generation Packet Core Assets – a wireless technology – for $10 million.

Bankruptcy courts in the U.S. and Canada approved the deal, Nortel said.

Nortel is in the process of selling off its assets as part of a liquidation which began with its bankruptcy declaration last January.

“These products support the transfer of data over existing wireless networks and the next generation of wireless communications technology,” Nortel said of the Hitachi deal. “The assets include relevant non-patent intellectual property, equipment and other related tangible assets, as well as a non-exclusive license of certain relevant patents and other intellectual property.”

Nortel employs some 1,700 people at its RTP campus. Ciena Networks is acquiring the business unit that employs most of those people.

Tags: Broadband, Nortel, Telecommunications and Wireless

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