Mergers and Acquistions News
Categories: Media & Information Services
February 20th 2009, 17:03PM
Nortel has entered a Stalking Horse asset purchase agreement with Radware, which will see the transfer of parts of its application delivery portfolio between the two firms.
Under the acquisition agreement, Radware gains Nortel Application Accelerators, Nortel Application Switches and Virtual Services Switch among other products.
The deal sees Radware assuming ownership, product development and outstanding warrantees on the portfolio, while the firms would work together to promote the Nortel products.
Joel Hackney, the president of enterprise solutions at Nortel, says the discussions between the two firms were initiated in the latter stages of 2008.
"We remain focused on our enterprise business to deliver our industry-leading networking infrastructure that comprises our end-to-end unified communications solutions, including real-time and wireless networking capabilities, services, security and integrated applications," he adds.
The acquisition follows Nortel filing for bankruptcy protection in January - as part of the arrangement other bidders are allowed to submit higher offers.
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