Tom Sweeney

It's a coming of age tale….

Posts Tagged ‘Telecom’

Bridgewater’s Q3 net income doubles

Posted by sweens on November 2, 2010

Bridgewater Systems says its third-quarter net income doubled to $3.4 million and raised its 2010 profit target range as revenue increased by 52 per cent over the same time last year.

The Ottawa-based technology company’s profit amounted to 13 cents per share with $23.9 million in revenue.

That’s up from $1.7 million or seven cents per share of net income with $15.8 million of revenue in the third quarter of 2009.

Bridgewater, which provides mobile personalization technology to telecom carriers, also provided updated guidance for 2010.

It now expects between $12 million and $13.5 million in net income. The previous range had been lower at between $10 million and $12 million.

Bridgewater also raised the lower end of its revenue range by $9 million to $92 million, but left the higher end of the range intact $94 million.

http://www.obj.ca/Technology/2010-11-02/article-1918490/Bridgewaters-Q3-net-income-doubles/1

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LG-Nortel launches joint venture for voice and data network

Posted by sweens on January 28, 2010

Published on January 28th, 2010
Canadian Press

The joint venture formed by Nortel Networks Corp. and LG Electronics of South Korea plans to tackle the U.S. business equipment market by mid-February with a new Taiwanese partner.

LG-Nortel said Thursday that it will pair with Accton Group to roll out a voice and data network for businesses operating under the name Edgecore Networks Inc.

LG-Nortel will hold a 60 per cent share in Edgecore while Accton will have the remaining 40 per cent.

The two companies will split responsibilities such as research and development, manufacturing, and marketing.

“This partnership will provide significant new opportunities to reinforce our brand, increasing our global competitiveness and helping our customers embrace the future opportunities and challenges of the converged communications market,” said LG-Nortel chief executive Jae Ryung Lee in a release.

Nortel holds a majority stake in the LG-Nortel joint venture, one of the few remaining pieces of the company that hasn’t been sold.

Toronto-based Nortel, formerly a giant of the global telecom equipment industry, filed for bankruptcy protection last year and has since been auctioning off its assets in an attempt to pay back debtholders.

http://www.obj.ca/Technology/2010-01-28/article-585270/LG-Nortel-launches-joint-venture-for-voice-and-data-network/1

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Nortel to auction carrier networks division without initial bid

Posted by sweens on September 22, 2009

By Ottawa Business Journal Staff

Tue, Sep 22, 2009 3:00 PM EST

Nortel Networks Corp. has decided to auction off its carrier networks business and, unlike its previous division sales, is doing it without a “stalking horse” bidder this time.

The ailing telecom firm said its principal operating subsidiary, Nortel Networks Ltd. and its U.S. subsidiary Nortel Networks Inc. are planning to sell by auction the assets of its carrier networks division associated with the development of next-generation packet core network components.

The assets consist of software to support the transfer of data over existing wireless networks and the next generation of wireless communications technology, and include relevant non-patent intellectual property, equipment and other related tangible assets, the company said.

The purchaser will likely also get a non-exclusive licence of relevant patent intellectual property, Nortel added in its release.

The announcement marks the third Nortel business to be sold off since the company filed for bankruptcy protection in early 2009. However, this auction process is slightly different from the previous deals as it does not include an initial “stalking horse” bidder with a firm offer.

Bids will be accepted for the carrier networks business until the deadline of Oct. 16, with the auction to take place two weeks later.

The federal government on Sept. 17 gave the green light to the $1.13-billion sale of Nortel’s wireless business to Ericsson, and the company is now awaiting the final approvals for the $900-million sale of its enterprise solutions division to auction winner Avaya, which was also the “stalking horse” bidder for the business.

http://www.ottawabusinessjournal.com/295481941870324.php

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