Wednesday, February 18, 2009

Nortel to Divest Layer 4-7 Data Portfolio to Radware

Nortel reached an agreement to sell certain portions of its Application Delivery portfolio to Radware. Under the deal, Radware will acquire the Nortel Application Accelerators (NAA) 510 and 610; Nortel Application Switches (NAS) 3408E, 2424E, 2424 SSL E, 2216E, 2208E; and the Virtual Services Switch (VSS) 5000. Radware will assume ownership, product development and outstanding warrantees, the products and the products would still be available and promoted by Nortel in an OEM relationship with Radware.

Nortel has filed the asset purchase agreement with the United States Bankruptcy Court for the District of Delaware along with a motion seeking the establishment of bidding procedures for an auction that allows other qualified bidders to submit higher or otherwise better offers, as required under Section 363 of the U.S. Bankruptcy Code.

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