Nortel Won’t Be Coming Back from Bankruptcy

logo_purpleNokia Siemens Networks has offered to buy several business units of  bankrupt telecommunications gear provider Nortel (s NT), according to the Wall Street Journal. The Journal reports that Nokia Siemens has bid on Nortel’s Long Term Evolution (LTE) R&D unit and its carrier networks business, to help expand its sales in the U.S. The paper also reports that Avaya and Siemens Enterprise Communications are interested in Nortel’s business telecommunications unit, which includes VoIP gear.
Executives at Nortel, which filed for bankruptcy back in January, had said the company planned to emerge from bankruptcy, but as the process continues that scenario looks less likely. Instead, the Canadian company is being dismantled and sold for parts, pending approval from the bankruptcy court. Other vendors circling Nortel’s carcass include Genband, a maker of media gateways for telecommunications networks, which is said to be bidding on Nortel’s gateway business; and Golden Gate Capital, a private equity firm interested in the business communications assets coveted by Avaya and Siemens Enterprise.
In March, Radware (s RDWR), an application delivery optimization company, sealed the deal for Nortel’s application delivery assets. It paid $18 million for a business unit that cost Nortel $7 billion back in 2000.