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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.
- Early Days
- Research and Development
- Initial Public Offering
- Northern Telecom Inc.
- The Internet
- Nortel Networks Corp.
- Accounting Scandal
- Collapse of Nortel
- Bankruptcy and Asset Allocation
The mechanical department of The Bell Telephone Company of Canada (Bell Canada), located in Montréal, was incorporated as the Northern Electric and Manufacturing Company on 7 December 1895. It merged with another Bell Canada asset, Imperial Wire and Cable, in 1914, to become Northern Electric Co. Ltd. Northern Electric provided the hardware the Bel...
In 1957, Northern Electric established a research and development (R&D) facility in Belleville, Ontario, and created Northern Electric Research and Development Laboratories in 1959. It opened an Ottawa facility in 1961. A few technological achievements resulted, including the world’s longest microwave system, the 6,100 km Trans-Canada Skyway, which...
The Pulse was successful enough for Northern Electric to be listed for the first time as a public company. Ten per cent of its shares were listed on the Toronto Stock Exchange in 1973 at $15, with Bell Canada holding 90.1 per cent of outstanding shares. Northern Electric shares began trading on the New York Stock Exchange in 1975, by which time Bel...
In a 1976 restructuring, Northern Telecom Canada Ltd. was created to manage Northern Electric’s Canadian marketing and manufacturing. Its headquarters were established in the Toronto suburb of Etobicoke. The US division, Northern Telecom Inc., was located in Nashville, Tennessee. In addition to Bell-Northern Research (BNR), Northern Telecom created...
Though its revenues grew, from $2.7 billion in 1983 to $8.2 billion in 1991, Northern Telecom faced increasing competition from another IT development, one that was based on personal computers and Ethernet. At offices and universities, LANs were combining into wide area networks (WANs), and they in turn were using telephone lines and a protocol “la...
In the late 1990s, Nortel was a leading global provider of mobile wireless technology, and was the dominant supplier of high-speed optical networks. But the company had badly misjudged the rise of the Internet. In 1997, John Roth, an engineer and former president of BNR, was promoted to president and CEO. Roth recognized Nortel’s technology gap, an...
From 1997 to early 2001, Nortel enjoyed a spectacular run as a widely held investment, as part of the broader dot-com investment bubble. Individual and institutional investors (including pension funds), convinced Internet-technology companies would experience never-ending sales growth, poured money into this sector of the stock market, driving up s...
Canada’s business media and the investment community believed fervently in Nortel. In 2000, John Roth was named Canada’s CEO of the Year (an award sponsored by the National Post, Caldwell Partners International, CTV and RBC Dominion Securities) and Newsmaker of the Year by TIMECanada. However, there were growing signs that Nortel could not continue...
Nortel’s shareholders, employees and pensioners suffered enormous losses after the company filed for protection from its creditors in Canada, the United States, Israel and the United Kingdom (see Bankruptcy). Nortel sold off its assets for a total of US$7.3 billion. Those assets were scheduled to be distributed to Nortel’s bondholders, suppliers an...
Nortel. Nortel was a large Canadian telecommunications company and one of the oldest technology companies. It was founded in Montreal. The company started making phones in 1895, and the company was called Northern Electric and Manufacturing Company.
8200 Dixie Road. Suite 100. Brampton, Ontario L6T 5P6. Canada. Telephone: (905) 863-0000. Fax: (905) 863-3408. http://www.nortelnetworks.com. Statistics: Public Company. Incorporated: 1914 as Northern Electric Company, Limited. Employees: 70,000. Sales: US$22.22 billion (1999) Stock Exchanges: New York Toronto. Ticker Symbol: NT.
Jun 30, 2023 · There are several contributing factors, including the rise of the internet, the saturation of the fibre optic market, excessive acquisitions and suspicious accounting which lead to the eventual crash of Nortel. Here we run over some of the key factors.
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Aug 24, 2009 · In This Article. 1874 – Alexander Graham Bell invents the telephone in Brantford, Ontario, about 64 miles from the current Nortel Networks headquarters.1914 – The Northern Electric ...
