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Nortel Networks
built 658 days ago
With an international history that goes back more than a century, Nortel Networks is a true pioneer in telecom. After Alexander Graham Bell's father sold his share in his son's telephone patent to National Bell Telephone of Boston in 1880, a former sea captain, Charles Fleetford Sise, was sent to Montreal to create Bell Telephone Company of Canada. Within two years, the company began to make its own telephones. By 1895, the manufacturing branch was spun off into Northern Electric and Manufacturing and later renamed Northern Electric when it merged with a wire and cable subsidiary of Bell in 1914.
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Nortel Networks is an industry leader and innovator focused on transforming how the world communicates and exchanges information. The Company is supplying its service provider and enterprise customers with communications technology and infrastructure to enable value-added IP data, voice and multimedia services spanning Wireless Networks, Wireline Networks, Enterprise Networks, and Optical Networks. As a global company, Nortel Networks does business in more than 150 countries.
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Nortel Networks Corp. (NT) opened at 16.27. So far today, the stock has hit a low of 16.17 and a high of 16.43. NT is now trading at 16.28, down 0.48 (-2.95%). The stock hit its 52 week high of 31.79 in February and set its 52 week low of 15.32 in September. NT rose during 2006, but has been steadily dropping since the beginning of this year. Nortel Networks announced yesterday it had agreed to pay $35 million to settle a civil suit filed by the Securities alleging that Nortel's previous management engaged in two fraudulent accounting schemes.
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Nortel Networks has deployed a campus backbone for the Binzhou Medical College to enable secure, advanced communications services as the College looks at migrating smoothly and cost-effectively to IP (Internet Protocol) multimedia services and applications. The deployment further extends Nortel Networks strong momentum in China's education market. The above project marks the fifth campus infrastructure Nortel Networks has deployed in China within the past six months. The previous four include the Petroleum University in Shandong, Yunnan Art University, Anhui Normal University and Anhui Institute of Architecture and Industry. The backbone network for Binzhou Medical College seamlessly integrates the existing network elements across the entire campus and supports high-speed Internet access. The backbone ... serves as an aggregation node for all the other campus networks in Binzhou City to connect to the China Education and Research Network (CERNET), the nation's most important research network under the Ministry of Education.
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As a founding participant in the industry research program, Nortel Networks will be actively involved in setting the strategic direction of the center and supporting faculty and student research. It ... will have membership on the center's advisory board, will participate as a technology mentor in research focused on specific applications, and will participate in symposia of the type that was held at the university Tuesday.
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As part of the settlement, Nortel Networks has granted Ciena a license under certain patents, including U.S. Patent Nos. 6,084,694 and 6,493,117 and their non-U.S. equivalents, as well as any patents that issue under certain related patent applications. Ciena will make a one-time payment of US$25 million to Nortel Networks.
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