Reuters
Nortel signs deal with Avici, stock jumps
Thursday January 8, 9:57 am ET
TORONTO, Jan 8 (Reuters) - Nortel Networks Corp. (Toronto:NT.TO - News;
NYSE:NT - News) said on Thursday it had reached a three-year deal to sell and
support Avici Systems Inc.'s (NasdaqNM:AVCI - News) Internet protocol (IP)
routers, devices that direct data on networks.
Nortel, one of the world's largest
makers of telecommunications
equipment, said the deal was part
of its strategy to enable service
providers to converge their
separate networks into one
infrastructure that will deliver
voice, video and data together.
Nortel shares jumped 9 percent,
or 70 Canadian cents, to C$8.00
in Toronto, and 47 cents to $6.15
in New York after the
announcement.
Nortel stock finished up 19
percent on Wednesday after it struck a deal to supply Verizon Communications
(NYSE:VZ - News), the No. 1 U.S. phone company, with next-generation voice
over Internet protocol (VoIP) technology.
Avici shares jumped 28 percent, or $2.96, to $13.40 on Nasdaq after the
markets opened on Thursday.
The value of Thursday's deal was not disclosed.
Massachusetts-based Avici, which provides routers for the Internet, said the
deal should have an impact on revenue in the second half of 2004.
chart.bigcharts.com/bc3/quickchart/...17&mocktick=1&rand=3669" style="max-width:560px" >
AVCI kommt übrigens von 160$ :-)
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