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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. Until an antitrust settlement in 1949 ...
Nortel's share price falls more than 79% on the Toronto Stock Exchange. Nortel is the first major technology company to seek bankruptcy protection in this global downturn. [48] Nortel had an interest payment of $107 million due the next day, approximately 4.6% of its cash reserves of approximately $2.3 billion. [49]
Jan 15, 2009 · Here are some key dates in the company's history: Advertisement · Scroll to continue. Sept 1998 -- Company changes name to Nortel Networks from Northern Telecom underlining its shift toward data ...
Jan 14, 2009 · 1882: Nortel's predecessor company, ... Oct. 24: Stock has first of what would become many major tumbles, falling the equivalent of $246 in today's terms ($24.60 before the consolidation) after ...
The company had earlier said it would cut 4,000 jobs from its work force of 94,500 worldwide .2002 – Malcolm Collins is named president of Nortel’s Enterprise Networks Division.
Jul 17, 2020 · They kicked off this spree by acquiring a company called the Bay Network for $9.1B in 1998, then changed their name Nortel Networks Corp. Nortel continued to buy companies, spending US$19.7 ...
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Jun 30, 2023 · Nortel Networks Corporation was declared bankrupt in 2009 after almost a decade of financial mismanagement by its executive team. In 2008, three former top executives had been charged with fraud for misrepresenting Nortel’s financial results between 2000 and 2004. The company was finally liquidated in 2017, paying out 7 billion dollars to its ...
