Nortel Announces Tasman Networks Acquisition

3:45 pm on December 27, 2005 | Category: Business, VoIP

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Telecom equipment maker, Nortel Networks announced its pending acquisition of enterprise-class hardware company, Tasman Networks, earlier today, at a price of $99.5 million.

The Toronto-based Nortel has been focusing on several new areas of business this year, including a joint venture with South Korean handset maker, LG, and contracting work for the American government.

This latest acquisition seems to be Nortel’s way of further reaching into the corporate networking market, and inviting possible competition with the currently dominant, Cisco Systems.

Although Nortel already sells some network routers to businesses, they have been planning for some time to gain access to more sophisticated hardware, in order to support IP voice, video, and multimedia functions.

“We believe in our enterprise asset and want to bulk it up, and one of the things that we are looking at is how we can be more relevant in the routing space,” Nortel executive, Mr. Joannou was quoted as saying earlier this year.

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    Published by TeleClick Enterprises
    Edited by Jeremy Maddock