Those deals take the total Nortel has raised from its asset sale program to $2.93 billion, mostly in cash.
So what's left for the bankrupt Canadian vendor to sell? Here's an update on what's been sold, and what's still up for grabs.
SOLD – Concluded and agreed asset sales
In reverse chronological order:
GSM business -– November 2009 -- Ericsson AB (Nasdaq: ERIC) picks up the North American business for $70 million, while Austria's Kapsch CarrierCom AG is paying $33 million for the EMEA (Europe, Middle East, and Africa) and Taiwan GSM operations, and the GSM-R (specific development for on-train mobile communications) business.
Layer 4-7 Application Delivery Business -- February 2009 -- Radware Ltd. (Nasdaq: RDWR) picked up Nortel's application switching and WAN optimization assets for $18 million, and has already relaunched the product line. (See Nortel to Offload Data Gear to Radware, Radware Completes Nortel Buy, and Radware's New Superhero.)
NOT SOLD – Assets still for sale (or not even for sale)
The bulk of Nortel's business has been offloaded, but there are still some units left, including one that's still growing. Then there are the assets that Nortel might just hang on to...
Legacy mobile packet core -- The next-generation evolved packet core assets may have been sold, but Nortel still has its existing mobile data management platforms to sell. The company had hoped to offload all its mobile packet core assets together. (See Nortel's Next Auction: The Packet Core.)
LG-Nortel majority stake -- Nortel's 50-percent-plus-one-share stake in Korean joint venture LG-Ericsson Co. Ltd. has been on the table since May. But no offers have been forthcoming and the business is in meltdown, with revenues down 51 percent year-on-year to $103 million in the third quarter. (See Nortel Offers Up Its LG-Nortel Stake.)