Nortel launches fire-sale for packet core business

Nortel will sell off its packet core network business in what will be the third fire-sale auction of its company's assets.

The bankrupt Canadian vendor said it will carve off and sell those assets in its carrier networks group associated with the development of packet core network components.
These include software, equipment, non-patent IP and related tangible assets. Nortel will maintain control of the associated patents but will grant the buyer a non-exclusive license to use the technology.
Nortel has already auctioned off its enterprise and CDMA assets. Avaya bought the former for $915 million (€610 million), while Ericsson picked up the latter for €673 million.
Nortel has yet to receive a stalking horse bid for its packet core network assets, the Ottawa Citizen said
The sale is subject to approval by US and Canadian bankruptcy courts. The bid deadline is October 16.
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