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Radware, Nortel sign asset purchase deal

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CIOL Bureau
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NEW DELHI, INDIA: Radware, a provider of integrated application delivery solutions for business-smart networking, announced on Tuesday that it has signed an asset purchase agreement with Nortel to purchase certain assets related to Nortel’s Layer 4-7 Application Delivery Business.

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Nortel added the application switch product line in October 2000 by way of its corporate acquisition of Alteon WebSystems, Inc., said a press release.

As part of the intended acquisition, Radware would take on Nortel’s application delivery products, offering them under a merged brand, Radware Alteon, said the release.

From the onset, Radware plans to significantly invest in service and support for the existing Nortel (Alteon) customer base as well as augment its current global support infrastructure with all of the necessary resources to guarantee world-class support for these customers.

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“We believe acquiring Nortel’s Application Delivery Business is a strategic move that will directly benefit Radware and Nortel (Alteon) customers. Our ultimate goal is to provide them with a stronger, integrated product backed by world-class support and a globally-focused organization,” said Roy Zisapel, CEO, Radware.

“We are committed to making this transaction seamless for existing Nortel (Alteon) customers and intend to take the necessary steps to ensure zero disruption to their business when the transfer occurs,” he added.

Additionally, Radware intends to reinforce its commitment to all existing Nortel (Alteon) customers by offering a 5-year support product plan, thus securing the investment of these customers in Nortel (Alteon) technology.

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It also intends to invest in these products by continuing to sell them and invest in their development, leveraging mutual strengths of both Radware and Nortel (Alteon) technologies and experience, to provide customers with the next generation of more reliable, high-performance and feature-rich solutions.

The company also plans to take on certain employees who will be integrated into the Radware team with a specific focus on products under the Radware Alteon brand.

Nortel has filed the asset purchase agreement with the United States Bankruptcy Court for the District of Delaware along with a motion seeking the establishment of bidding procedures for an auction that allows other qualified bidders to submit higher or otherwise better offers, as required under Section 363 of the U.S. Bankruptcy Code, added the release.

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