The telecommunications network specialist Ciena Corporation (CIEN) has been selected as the successful bidder for Nortel Network Corp.'s (NT) optical networking and carrier ethernet business for a total consideration of $769 million. Ciena will pay $530 million in cash and $239 million in convertible notes for Nortel’s Metro optical and Ethernet Networks (MEN) division. This is up from Ciena’s previous bid of $522 million ($390 million in cash and 10 million Ciena shares). Nokia Siemens Networks, a joint venture between Nokia (NOK) and Siemens AG (SI), challenging Ciena’s bid for the Nortel assets lost the bid in a three-day auction.  Nokia Siemens said that further bidding could not be financially justified. Ciena said it expects the deal to be significantly accretive to its operations in fiscal 2011. The transaction is expected to close in the first calendar quarter of 2010. Ciena ...

Nortel Network Corp.'s (NT) said that the final auction for acquiring all of its Metro optical and Ethernet Networks (MEN) division is on Nov 20, 2009.  The deal is subject to a competitive bidding process. Nokia Siemens Networks, a joint venture between Nokia (NOK) and Siemens AG (SI) and a private equity firm One Equity Partners have jointly bid for Nortel’s optical networking and carrier Ethernet business challenging Ciena Corporation’s (CIEN) bid for the assets.   The telecommunication and network specialist Ciena offered a total of $521 million ($390 million in cash and 10 million in shares) to Nortel for acquiring substantially all of its MEN division.   We believe that the deal has strong growth potential for Ciena’s rapidly expanding metro Ethernet business and optical networking products. The Nortel deal would be the largest ever for Ciena and would also help it expand geographically.  ...

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Tuesday November 17, 2009

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Horizon Health International Corp. (Pink Sheets:HZHI) launched a product awareness campaign. The company will be show-casing products through existing e-commerce sites to stimulate sales through online transactions. Through Its US Subsidiary SunCity Ventures, Horizon Health International has registered with eBay US as a Vendor-Company under the name ‘Horizon Health’, and will post and sell its products on eBay through their online shopping network.

Zenergy International, Inc. (PINKSHEETS: ZENG) is pleased to announce that the Company has secured

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The telecommunication and network specialist, Ciena Corporation (CIEN) announced that it has received regulatory approval for the proposed acquisition of substantially all of Nortel Network Corp.'s (NT) optical and Ethernet division.   The company has been granted termination of the waiting period under the Hart-Scott Rodino Act in the United States. The Canadian Competition Bureau has also approved the takeover.  Ciena plans to acquire substantially all of the optical networking and carrier Ethernet assets of its rival Nortel Networks’ Metro Ethernet Networks (MEN) division, for a total of $521 million ($390 million in cash and 10 million in shares worth $142 million based on the Oct. 15 market price).  However, the deal also requires the approval of the United States Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice. Nortel had filed for bankruptcy in January.  The deal is ...

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Monday October 26, 2009

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Powersafe Technology Corp.’s (Other OTC: PSFT.PK) Subsidiary Amplification Technologies has patented a revolutionary new solid-state semiconductor technology solution for low-level signal detection: multichannel Discrete Amplification (DA). The patented DA platform technology, invented by company scientists, is a breakthrough in the design of photon detectors, providing these detectors with unique competitive advantages. Use of DA in semiconductor detectors increases their sensitivity markedly, and enables the creation of new detector systems for various applications including medical diagnostics, security systems,

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The telecommunications and network equipment company Ciena Corporation (CIEN) has received the Court’s approval to begin bidding for Nortel Network Corp.'s (NT) optical and Ethernet division. The judges also said that Nov. 9 will be the deadline for bids and scheduled the auction for Nov. 13. Ciena plans to acquire substantially all of the optical networking and carrier Ethernet assets of its rival Nortel Networks’ Metro Ethernet Networks (MEN) division, for a total of $521 million ($390 million in cash and 10 million in shares worth $142 million based on the Oct. 15 market price). The company expects to incur integration-related costs of approximately $180 million, the majority of which will be paid in 2010, and expects the transaction to be significantly accretive in fiscal 2011. The deal is subject to a competitive bidding process under the United States Bankruptcy Code and the Canadian Companies' ...

For Immediate Release

Chicago, IL – October 9, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Ciena Corporation (CIEN), Nortel Networks (NRTLQ), Ericsson (ERIC), Nokia (NOK) and Siemens (SI).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Thursday’s Analyst Blog:

Ciena Takes Over Nortel Unit

Yesterday, telecommunications and network equipment company Ciena Corporation (CIEN) announced the acquisition of substantially all of the optical networking and carrier Ethernet assets of its rival Nortel Networks’ (NRTLQ) Metro Ethernet Networks (MEN) division, for a total of $521 million ($390 million in

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Yesterday, telecommunications and network equipment company Ciena Corporation (CIEN) announced the acquisition of substantially all of the optical networking and carrier Ethernet assets of its rival Nortel Networks’ (NT) Metro Ethernet Networks (MEN) division, for a total of $521 million ($390 million in cash and 10 million in shares worth $131 million based on the Oct. 6 market price). Ciena will take over Nortel’s long-haul optical transport portfolio, metro optical Ethernet switching and transport solutions, Ethernet transport, aggregation and switching technology, multiservice SONET/SDH product families and network management software products. Moreover, Ciena expects to incur integration-related costs of approximately $180 million, the majority of which will be paid in 2010 and expects the transaction to be significantly accretive in fiscal 2011. Nortel had filed for bankruptcy protection back in January in Canada, and has since then planned to sell off its assets. Nortel had ...

Ciena Corporation (CIEN) announced better-than-expected results for the third quarter ended July 31 amid cautious consumer spending and weak demand. However, the more stable macro economic environment helped it deliver sequential growth, although year over year comparisons have been weak. Revenue of $164.8 million was down 34.9% year over year but increased 14.4% sequentially and beat the Zacks Consensus estimate of $156.0 million. Revenue for the quarter included $139.9 million in product revenue, which was down 37.4% from the year-ago period, and $24.9 million in services revenue, down 15.8% year over year. Ciena narrowed its non-GAAP (excluding one-time and non-cash items) net loss for the quarter to 5 cents from a net loss of 25 cents in the previous quarter. This was, however, down from the year-ago period of a net income of 37 cents, but beat the Zacks Consensus estimate of a 21 cent net ...

 

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Thursday September 3, 2009

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Garmin International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), the global leader in satellite navigation, announced today the nuvi 1690, a portable navigation device (PND) with a built-in wireless module that lets customers tap into Garmin’s nuLink! service that provides direct links to certain online information like Google(TM) local search,

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