Zafirovski’s departure is effective today following a determination by Nortel’s board that the company has reached a “natural transition point.” Nortel is liquidating its assets, having already sold its wireless operations to Ericsson for $1.13 billion and inked an agreement to sell its enterprise business to Avaya for $475 million in a “stalking horse” arrangement
Nortel reached the decision to liquidate its assets in June, having failed to adequately restructure the company under Chapter 11 bankruptcy as a viable contender in enterprise and service provider telecommunications. Zafirovski launched the restructuring when he came aboard in 2005 following a 2004 accounting scandal by then-CEO Frank Dunn. Continue reading “Nortel CEO Zafirovski Steps Down”
Tag: nortel
Avaya wins Nortel enterprise business for $900 million
Avaya has emerged because the winning bidder for Nortel’s enterprise business, beating out Siemens Enterprise Communications over the weekend.
The firm can pay $900 million for the unit, Nortel’s Government Solutions cluster and DiamondWare Ltd., a Nortel-owned maker of softphones. Avaya also will contribute a further pool of $15 million for an employee retention program. That value is almost twice what Avaya was initially said to be shopping for the enterprise business for back in July before auction bidding kicked in. Continue reading “Avaya wins Nortel enterprise business for $900 million”
Avaya lays out Nortel migration road map
The set up significantly addresses how the corporate can eliminate overlap between its own and Nortel’s product lines, generally favoring Avaya technology, generally Nortel’s, within the areas of unified communications, contact centers, tiny and midsize businesses further as network infrastructure. At an equivalent time the set up permits value savings via SIP trunking which is able to let customers send voice and knowledge over one pipe instead of multiple lines and alternative reduced prices by centralizing administration of company phone systems, Avaya says.
The net result, says Alan Baratz, senior vp and president for international Communication Solutions at Avaya, is expanded capabilities, reduced prices and fewer disruptive amendment. Continue reading “Avaya lays out Nortel migration road map”
Nortel CEO on his way out
Nortel Networks’ CEO Mike Zafirovski can leave the troubled supplier of telecommunications equipment within the coming back weeks, The Wall Street Journal reported on Saturday, citing anonymous sources.
Zafirovski, who previously was president and chief operating officer of Motorola, became Nortel Networks’ CEO in November 2005 and tried to show round the struggling Canadian company. However, Nortel Networks ended up seeking bankruptcy protection in January of this year and is currently selling its assets to pay creditors. Continue reading “Nortel CEO on his way out”
DOJ examines Nortel patent sale
The U.S. Department of Justice is examining bidders, together with Apple and Google, fascinated by Nortel’s patent portfolio, in line with a report within the Wall Street Journal that cites unnamed folks aware of true.
The agency is worried that the patents may be used to hamper competition within the wireless business, in line with the report.
In April, Google said it had bid US$900 million for thousands of patents that Nortel is auctioning off as a part of its bankruptcy proceedings. whereas courts within the U.S. and Canada, where Nortel is predicated, approved Google’s provide, alternative interested patrons have till June twenty to counterbid for the over half dozen,000 patents. Continue reading “DOJ examines Nortel patent sale”