Nortel sells power systems subsidiary

Article Abstract:

Astec PLC of Hong Kong has acquired Brampton, Ontario-based Northern Telecom Ltd.'s Advanced Power Systems division in a deal worth $325 million in cash. Astec, which is among the leading international power-converter makers, with 1997 revenues worth $631.9 million, takes away from Northern Telecom the latter's non-core business of selling power systems to telecommunications equipment manufacturers. Northern Telecom's vice president of technology supply and components, Art MacDonald, stated that the company decided to sell the unit after realizing that the next step to growth would need considerable investment or an alliance.

Comment:

Acquires Brampton, Ontario-based Northern Telecom Ltd's Advanced Power Systems division in a deal worth $325 mil in cash

Foreign operations, Hong Kong, All Other Miscellaneous Electrical Equipment and Component Manufacturing, Power Converters & Amplifiers, Northern Telecom Ltd., Astec PLC

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Newbridge sells stake in ACC

Article Abstract:

L.M. Ericsson Telephone Co. Inc. has acquired Newbridge Networks Corp.'s 60% stake in Advanced Computers Communications Corp. for US$171-million. The decision to sell the stake in Advanced Computers seems to be contrary to Newbridge's new strategy of boosting revenue by selling different communications equipment for communications network. However, according to the company's chairman and CEO, Terry Matthews, it is the right time to sell the company's stake in Advanced Computers. The sale of the stake comes after Newbridge reportedly tried to prepare Advanced Computers for an initial public offering.

Comment:

Has acquired Newbridge Networks' 60% stake in Advanced Computers Communications for US$171-million

United States, Computer Auxiliary Equip, Computer and Peripheral Equipment Manufacturing, Computer peripherals, Newbridge Networks Corp., L.M. Ericsson Telephone Co. Inc.

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