Nortel Networks to post major carrier deal in May
Wednesday May 12, 10:33 pm Eastern Time
TORONTO, May 12 (Reuters) - Data and telecommunications company Nortel Networks Corp. (NT.TO - news) (NT - news) said on Wednesday it will unveil a big contract this month for equipment to send speech over Internet protocol (IP)-based networks.
''Shortly we'll be unveiling a very large, carrier-grade, voice over IP networking (deal),'' Nortel President David House told Reuters in an interview. He declined to identify the customer, but said the contract would be announced in May.
Nortel, one of the world's largest data transfer and telecoms equipment companies, creates technology that allows companies to quickly pipe high volumes of voice traffic over the Internet.
Nortel bought Santa Clara, Ca.-based data expert Bay Networks in a $9.1 billion deal last summer, bringing House into the company.
Nortel Chief Executive John Roth relinquished his presidential role to House, who spends most of his time in California but was in Toronto's suburbs for a Nortel staff forum on Wednesday.
On Wednesday shares in the concern rose 55 Canadian cents to C$107.25 on the Toronto stock market, edging closer to a 12-month high of C$114.
($1=$1.45 Canadian)
|
