Metro Ethernet Networks

 

Ciena Doles Out Stock Awards to Ex-Nortel Workers

Ciena Corp. (CIEN) has given 195 of its new employees from Nortel Networks a benefit in addition to keeping their jobs: 1.655 million shares of common stock. The stock was worth $24.8 million on April 1, the day it was distributed, according to The Ottawa Citizen. The distribution is now valued at about $29 million but […]

Nortel Workers ‘Relieved’ As Ciena Takes Over

Former Nortel Metro Ethernet Networks workers seem to be taking well to life at new employer and former rival Ciena Corp. (CIEN). On Thursday, Baltimore-based Ciena threw a company-wide party in Canada to celebrate the close of the $774 million deal that doubled Ciena’s size. There was a hot buffet luncheon, music and an upbeat speech […]

Ciena, Nortel Partners Get Broader Tool Kit From Combo

Indirect channel partners at Ciena and Nortel are in a good place now that the two companies have joined forces. More end users are counting on theiconsultants and suppliers to know old-school TDM technologies and the next-gen IP world. Ciena says its perfectly positioned as one of those vendors.

Ciena Closes Nortel MEN Deal for $773.8M

Ciena Corp. (CIEN) said has closed the takeover of bankrupt Nortel Networks’ Metro Ethernet Networks (MEN) group. Ciena bought the unit in late 2009 in a nail-biter auction against Nokia Siemens Networks. Late Friday, Ciena said it paid a total price of $773.8 million, all cash. The original purchase price totaled $769 million. Ciena was going […]

Ciena Beats Nokia Siemens for Nortels Ethernet Assets

Ciena Corp. (CIEN) has defied the odds to win Nortel Networks’ Metro Ethernet Networks business at auction, and, best of all, the workers in those units will get the chance to keep their jobs. Ciena this weekend plunked down $530 million in cash and $239 million in convertible notes to beat out rival Nokia Siemens Networks, […]

Nortel Delays Optical Auction Ciena Thought Best Fit

Ciena Corp. (CIEN) seems to be the best buyer for Nortel Networks’ optical networking unit, but analysts aren’t confident the company has the resources to win the division at auction, which was supposed to take place today. Ciena is the official “stalking horse” bidder for auction to sell the Metro Ethernet Networks (MEN) division. And as […]

Nortel: On Nov. 13, Itll Be Raining MEN

Mark Nov. 13 as the date insolvent Nortel Networks presumably will sell its last large, and among its most-prized, assets. Bankruptcy courts in the United States and Canada have scheduled the auction of Nortel’s Metro Ethernet Networks (MEN) unit for Nov. 13, now that Ciena Corp. has been approved as the initial bidder. Ciena’s opening […]

Nortel: Ciena Ready to Pay $550M, But Theres Risk

Ciena Corp. (CIEN) reportedly is prepared to pay $550 million for Nortel Networks’ Metro Ethernet Networks unit. Word leaked yesterday that Ciena plans to pursue buying the division, although no dollar amount was disclosed. Today, that changed. Thing is, Ciena should brace itself and be ready to pay more. The Ethernet group must be sold at […]

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