LG-Nortel said Thursday that it will pair with Accton Group to roll out a voice and data network for businesses operating under the name Edgecore Networks Inc.
LG-Nortel will hold a 60 per cent share in Edgecore while Accton will have the remaining 40 per cent.
The two companies will split responsibilities such as research and development, manufacturing, and marketing.
"This partnership will provide significant new opportunities to reinforce our brand, increasing our global competitiveness and helping our customers embrace the future opportunities and challenges of the converged communications market,'' said LG-Nortel chief executive Jae Ryung Lee in a release.
Nortel holds a majority stake in the LG-Nortel joint venture, one of the few remaining pieces of the company that hasn't been sold.
Toronto-based Nortel, formerly a giant of the global telecom equipment industry, filed for bankruptcy protection last year and has since been auctioning off its assets in an attempt to pay back debtholders.
