Updated February 20, 2009
Nortel sells off part of its application business to Radware
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Research Triangle Park, N.C. —
Nortel (NYSE: NT) is selling part of its application delivery business to Radware (Nasdaq: RDWR).
Financial terms were not disclosed.
The deal is part of Nortel’s restructuring, which is taking placed under bankruptcy. The company has said it would streamline operations as part of the reorganization. Nortel already has stopped a WiFi project, terminating a joint venture.
The application switch product line Nortel is selling was acquired in 2000 as part of a deal for Alteon WebSystems.
Some Nortel employees will join Radware as part of the deal.
Nortel filed for bankruptcy on Jan. 11.
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