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Nortel to Sell Multi Service Switch Business

30 августа 2010

Nortel Networks has announced plans to sell substantially all of the assets of its North America, Caribbean and Latin America and Asia Multi Service Switch (MSS) business to PSP Holding for US$39 million. The deal is a "stalking horse" asset sale, which means other companies can come in an trump the offer.

These agreements include the planned sale of substantially all assets of the MSS business globally including the associated Data Packet Network and Shasta product groups. These agreements also include certain intellectual property related to the MSS business.

Currently, subject to the terms of these agreements as well as any changes that may occur through the stalking horse and sale process, substantially all MSS employees would have the opportunity to continue employment with PSP. This includes the employees assigned to the MSS business in certain EMEA jurisdictions who would transfer to PSP by operation of law.

Commenting on the announcement, John Luszczek, General Manager of Nortel's MSS business said: "Today's announcement is welcome news to all MSS customers, suppliers, partners and employees. The proposed transaction represents a clear and positive step forward and is a testament of our continued commitment to innovation and customer support that resulted in the creation of the business value evident by today's announcement. Throughout this process we will remain focused on providing our customers with the highest level of service, support and responsiveness that they have come to expect."


Источник: Cellular news

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