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Nortel Networks Corporation (Nortel), formerly Northern Telecom Limited, was a Canadian multinational telecommunications and data networking equipment manufacturer headquartered in Ottawa, Ontario, Canada. It was founded in Montreal, Quebec in 1895 as the Northern Electric and Manufacturing Company.
Nortel's share price falls more than 79% on the Toronto Stock Exchange. Nortel is the first major technology company to seek bankruptcy protection in this global downturn. Nortel had an interest payment of $107 million due the next day, approximately 4.6% of its cash reserves of approximately $2.3 billion.
Nortel Networks is a global leader in telephony, data, wireless, and wireline solutions for the Internet. Today, Nortel Networks is creating a high-performance Internet that is more reliable and faster than ever before.
Jun 30, 2023 · Nortel Networks Corporation was declared bankrupt in 2009 after almost a decade of financial mismanagement by its executive team. In 2008, three former top executives had been charged with fraud for misrepresenting Nortel’s financial results between 2000 and 2004.
Jan 15, 2009 · OTTAWA Nortel Networks, the Canadian telecom equipment maker, filed for bankruptcy protection from creditors Wednesday but analysts said its troubles might be too severe for it to recover and...
Jan 5, 2018 · Nortel Networks Corporation, or simply Nortel, was a public telecommunications and data networking equipment manufacturer. Founded in 1895 as the Northern Electric and Manufacturing Company, it was one of Canada’s oldest technology companies.
Jan 14, 2009 · A timeline of key dates in the history of Nortel Networks Corp., once one of Canada's most valuable companies. Today, three former executives were acquitted on charges of manipulating financial...
Jan 14, 2019 · The telecom giant’s collapse created ripple effects that are still being felt throughout the capital city, and the broader Canadian tech ecosystem, today. “Nortel did not need to die. That’s the bottom line.”. Jonathan Calof, professor at the University of Ottawa’s Telfer School of Management.
Jan 15, 2009 · Nortel Networks Corp, North America's biggest maker of telephone equipment, filed for bankruptcy protection in the United States on Wednesday, a day before it was due to make a $107 million ...
Mar 21, 2014 · Canadian telecom giant Nortel collapsed because of losing the confidence of its clients amid a culture of “arrogance and hubris” according to a study by researchers at the University of Ottawa.
