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Nortel. 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.
Bell-Northern Research (BNR) was a telecommunications research and development company established In 1971 when Bell Canada and Northern Electric combined their R&D organizations. It was jointly owned by Bell Canada and Northern Telecom. BNR was absorbed into Nortel Networks when that company changed its name from Northern Telecom in the mid-1990s.
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Nortel Meridian is a private branch exchange telephone switching system. It provides advanced voice features, data connectivity, LAN communications, computer telephony integration (CTI), and information services for communication applications ranging from 60 to 80,000 lines.
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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. [48] Nortel had an interest payment of $107 million due the next day, approximately 4.6% of its cash reserves of approximately $2.3 billion. [49]
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Nortel was a BCE subsidiary from 1983 to 2000. When BCE was created in 1983, Northern Telecom was transferred from a subsidiary of CRTC-regulated Bell Canada to a non-regulated subsidiary of BCE. In 1998, with Nortel's acquisition of Bay Networks, the company's name was changed to Nortel Networks. As a consequence of the stock transaction used ...