Ciena to Buy Nortel Assets for $521 Mil.
By wchung | 04 Apr, 2025
Ciena Corp. says it has agreed to by the optical networking and carrier Ethernet assets of Nortel Networks’ Metro Ethernet Networks business for roughly $521 million in cash and stock.
Ciena, a telecommunications and network equipment maker, said Wednesday it would pay $390 million in cash and 10 million in common shares.
The deal is a so-called “stalking horse” agreement, or what amounts to an opening bid in a court-supervised auction for the assets.
Under the deal, at least 2,000 Nortel workers, or 85 percent of the employees that work for the unit, would be offered jobs at Ciena.
Toronto-based Nortel filed for Chapter 11 protection in January and has decided to sell itself in pieces rather than restructure its business.
10/7/2009 8:44 AM LINTHICUM, Md. (AP)
Articles
- Young Asian Americans Find Side Hustles Alternative Paths to Success
- Beauty Guru Yasmine Topacio Demos Routine for Gorgeous East-West Blend
- Alexandr Wang Makes Anti-China Waves As World's Youngest Self-Made Billionaire
- Asian Americans Underperform in Crime with One Big Exception
- Orange County Indian Mom Slashes Son’s Throat After Amusement Park Spree
Asian American Success Stories
- The 130 Most Inspiring Asian Americans of All Time
- 12 Most Brilliant Asian Americans
- Greatest Asian American War Heroes
- Asian American Digital Pioneers
- New Asian American Imagemakers
- Asian American Innovators
- The 20 Most Inspiring Asian Sports Stars
- 5 Most Daring Asian Americans
- Surprising Superstars
- TV’s Hottest Asians
- 100 Greatest Asian American Entrepreneurs
- Asian American Wonder Women
- Greatest Asian American Rags-to-Riches Stories
- Notable Asian American Professionals