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Ottawa Business Journal - Technology

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Nortel gets Canuck court approval for Hitachi sale

Published on October 28, 2009; Published on December 30, 2009
OBJ Staff Ottawa Business Journal

Nortel Networks has received court approval to sell a portfolio of next-generation packet core network component assets to Hitachi for US$10 million, according to a lawyer with the insolvent company.

Topics :: Nortel , Hitachi , Canadian Press , U.S.

The Canadian Press reported that Canadian court approval has been granted, with the U.S. nod expected later this afternoon.

The news comes two days after Nortel announced the sale, which includes "software to support the transfer of data over existing wireless networks and the next generation of wireless communications technology, including 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."

The sale does not include legacy packet core components for Nortel's GSM and UMTS businesses.

-With files from The Canadian Press

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