Search results
Nortel Networks Corporation (Nortel), formerly Northern Telecom Limited, was a Canadian multinational telecommunications and data networking equipment manufacturer headquartered in Ottawa, Ontario, Canada. It was founded in Montreal, Quebec in 1895 as the Northern Electric and Manufacturing Company. Until an antitrust settlement in 1949 ...
The purchase of optical networking firms took center stage in mid-2000 as Nortel spent US$3.25 billion for Xros, Inc., a Sunnyvale, California-based firm that was developing optical switches; and US$1.43 billion for Wilmington, Massachusetts-based CoreTek, Inc., a start-up that was working to perfect specialized lasers to transmit light beams over fiber-optic lines.
Jan 15, 2009 · July, 2000 -- Nortel shares reach a high of C$124.50, or more than C$1,100 each if adjusted for a stock consolidation that took place in late 2006, giving it a market cap of more than $250 billion.
Jul 20, 2009 · The tale of Nortel has spun into a soap opera; however, unlike those far-reaching storylines, this one stands to impact real people in real ways. Pensioners, many of whom, sources say, are widows of former Nortel workers, could lose up to 40 percent of their income. (The average Nortel pensioner is 71 years old, receiving $1,000 per month.)
Nortel agreed to pay $11.5 million on his behalf to settle the lawsuit. Nortel also paid out US$575 million and 629 million common shares in 2006 to settle a class-action lawsuit that accused the company of misleading investors about the company's health. Currie stepped down as Executive Vice President and CFO in early 2007.
- Bankruptcy
- formerly
- Montreal, Quebec, Canada
- Public
Jan 5, 2018 · Article by Douglas Hunter. Published Online January 5, 2018. Last Edited January 4, 2018. Nortel Networks Corporation, or simply Nortel, was a public telecommunications and data networking equipment manufacturer. Founded in 1895 as the Northern Electric and Manufacturing Company, it was one of Canada’s oldest technology companies.
People also ask
Is Nortel a Canadian company?
Where is Nortel located?
Is Nortel Canada's oldest technology company?
When was Nortel founded?
Who is Nortel Networks?
What happened to Nortel Networks?
Sep 25, 2023 · Nortel kr225 m in annual revenue in FY 2022. See insights on Nortel including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft.
