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.  ...

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 ...

General Electric Co. (GE) is in talks to sell its security systems unit, most likely to United Technologies Corp. (UTX), for more than $1.5 billion in an effort to reshuffle its extensive portfolio and raise capital for strategic acquisitions.

United Technologies Corp. is a diversified company whose products include Carrier heating and air conditioning, Hamilton Sundstrand aerospace systems and industrial products, Otis elevators and escalators, Pratt & Whitney aircraft engines, Sikorsky helicopters, UTC Fire & Security systems and UTC Power fuel cells. The company has been lately looking to expand its security business.

GE’s move to sell its fire alarms and security division comes as it is finalizing a bigger deal to hive off its NBC Universal television and movie unit into a joint venture controlled by the cable operator Comcast.  Strategically, GE wants to raise funds to expand its core businesses – which include infrastructure, oil and gas equipment,

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Pitney Bowes Inc. (PBI) reported earnings per diluted share from continuing operations of 55 cents, compared with 67 cents in the prior year. This was higher than the Zacks Consensus Estimate of 54 cents. Earnings reflect the negative impacts of 1 cent per diluted share associated with currency and 1 cent per diluted share from incremental pension costs when compared with the prior year. Revenue for the quarter was $1.36 billion compared with $1.55 billion in the prior year, a decline of 12%. A stronger dollar reduced revenue by 2% year-over-year. The sustained nature of the recessionary environment is also driving some fundamental changes in the way businesses and customers connect, communicate and complete transactions in the global marketplace. Companies in most industries still have limited visibility and uncertain outlooks resulting in rising unemployment and ongoing caution about capital expenditures. These factors have ...

Siemens AG (SI) is set to acquire the solar thermal power company Solel Solar Systems Ltd. To date, the majority stake has been held by Ecofin Ltd., a London-based investment firm, and another major shareholder. The purchase price is about $418 million (currently equivalent to around €284 million). The transaction is subject to approval by the responsible authorities. It is anticipated that the closing will take place before the end of this calendar year. Solel is a successful company in the future-oriented solar power sector, with decades of experience in the development and manufacture of solar field equipment and the planning and construction of solar fields. Since 2006, Solel has also been present on the Spanish market, supplying key components for 15 solar thermal power plants with a combined capacity of 750 megawatts. In addition, the company is also active on the important U.S. market....

Tendril, the developer of the first integrated software/hardware platform to enable real-time, two-way communications between utilities/retailers and their customers on energy supply and consumption, is broadening its smart grid relationship with General Electric Company (GE) beyond appliances with an equity investment by GE Energy Financial Services.  GE Energy Financial Services is treating the venture capital investment as a follow-up to Tendril’s announcement in June that it raised $30 million in Series C funding, making it one of the best-funded energy management startups.  The Tendril Residential Energy Management Ecosystem (TREE) is designed to help utilities operate more efficiently to improve customer service and comply with new regulatory requirements.  GE’s investment builds on its appliances partnership with Tendril. GE Consumer & Industrial and Tendril announced in July that they would integrate the TREE Platform to work with GE's dryers, refrigerators, washing machines and other appliances. GE appliances ...

ABB Ltd. (ABB) announced that it has acquired the assets of Sinai Engineering Corporation to enhance its presence and capabilities in Western Canada. Sinai Engineering's offerings include high-voltage substations and transmission line design, generation and transmission system planning and analytical studies, as well as procurement and construction management. Its customers include electric utilities, conventional and heavy oil, gas processing, pulp and paper, mining, pipeline operators and independent power producers. It employs about 30 employees. ABB did not disclose the value of the transaction. This acquisition is aligned with the company’s strategy to strengthen its footprint in Western Canada , particularly in providing engineering services to oil and gas and utility customers. Further, ABB announced that it has renewed its $2 billion revolving credit facility in line with its strategy to ensure maximum financial flexibility. The new three year credit facility replaces the existing facility signed ...

The much-hyped next-generation (4G) technology of WiMAX is quickly losing ground to the alternative technology of Long-Term Evolution (LTE). Large telecom infrastructure equipment makers are gradually shifting from WiMAX to LTE, and as a result the WiMAX field is getting less crowded day by day.

This gives the smaller gear makers like PureWave Networks and Airspan Networks a chance to enter the WiMAX market.

Alcatel-Lucent (ALU) has scaled back its WiMAX R&D expenditures and now concentrates only on fixed WiMAX infrastructure deployment, rather than the complex mobile deployment. Nokia-Siemens Network, a joint venture of Nokia Corp. (NOK) and Siemens AG (SI), has taken a strategic decision to shift its focus to other next-generation wireless technologies, such as LTE and HSPA+, and decided to outsource the WiMAX technology from Alvarion Ltd. (ALVR). Fujitsu Ltd. has entirely stopped the development of WiMAX radio technology. Motorola (MOT) is also

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The much hyped next-generation (4G) technology of WiMAX is quickly losing ground to the alternative technology of Long-Term Evolution (LTE). Large telecom infrastructure equipment makers are gradually shifting from WiMAX to LTE, and as a result the WiMAX field is getting less crowded day by day. This has given the smaller gear makers like PureWave Networks and Airspan Networks a chance to enter the WiMAX market. Alcatel-Lucent (ALU) has scaled back its WiMAX R&D expenditures and now concentrates only on fixed WiMAX infrastructure deployment rather than the complex mobile deployment. Nokia-Siemens Network, a joint venture of Nokia Corp. (NOK) and Siemens AG (SI), has taken a strategic decision to shift its focus to other next-generation wireless technologies like LTE and HSPA+ and decided to outsource the WiMAX technology from Alvarion Ltd. (ALVR). Fujitsu Ltd., has entirely stopped the development of WiMAX radio technology. Motorola ...