Nortel Networks said it would sell parts of its application delivery business to Radware, another effort the bankrupt company is taking to streamline its business operations as it restructures.
The Canadian telecom equipment maker, which has until May 1 to finish restructuring and reorganizing its debt, said it would sell certain parts of its application delivery portfolio. Radware will receive ownership, product development and outstanding warranties, but the products will still be promoted by Nortel in an OEM relationship with Radware.
Nortel filed for bankruptcy in mid-January and since has exited the mobile WiMAX business, which significantly impacted the business of its partner Alvarion. The company also decided to postpone the sale of its Metro Ethernet Networks business and pledged to cut more jobs and costs.
Recently, it has come under increasing pressure from some of its suppliers who say that their interests have not been taken into account during Nortel's restructuring, and that its plans have remained too opaque.
For more:
- see this article
Related Articles:
Nortel suppliers concerned over bankruptcy delay
Nortel to slash more jobs amid bankruptcy
Nortel tries to extend bankruptcy protection
Nortel workers faced with tough prospects amid bankruptcy
Nortel exits mobile WiMAX business
Nortel files for bankruptcy protection