Nortel files for bankruptcy

[David Farber <dave () farber net>]

Begin forwarded message:

From: "John S. Quarterman" <jsq () quarterman org>
Date: January 14, 2009 10:10:50 AM EST
To: dave () farber net
Cc: "John S. Quarterman" <jsq () quarterman org>
Subject: Nortel files for bankruptcy

Dave,

For IP:

"WASHINGTON (MarketWatch) -- Nortel Networks Corp., once the largest
company in Canada, has filed for bankruptcy protection, victimized by
the deepening economic slump."

http://tinyurl.com/6uny75

http://www.marketwatch.com/news/story/nortel-files-bankruptcy-protection/story.aspx?guid= 
{824CFA6D-C3EA-4C0B-AF3C-4D559F38A401}&dist=TQP_Mod_mktwN


Back in 1998, Nortel bought into the Internet business by
purchasing Bay Networks for $9.1 billion:

http://news.cnet.com/Nortel-buys-Bay-for-9-billion/2100-1001_3-212264.html

followed by purchases of Cambrian Systems for $300 million:

http://news.cnet.com/2100-1033-218880.html&tag=mncol%3btxt

and Shasta Networks for $340 million:

http://news.cnet.com/Nortel-buys-start-up-Shasta-Networks/2100-1033_3-224344.html

And perhaps plus others I don't recall.

As recently as August 2008 Nortel bought DiamondWare (3D stereo  
conferencing):

http://blog.tmcnet.com/blog/rich-tehrani/att/nortel-buys-diamondware.html

and Pingtel (SIP software), seeking to be a player in "unified  
communications":

http://www.lightreading.com/document.asp?doc_id=161446

But apparently buying into a new market didn't work for Nortel this  
time.

-jsq




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