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[3] [47] Nortel's market capitalization fell from C$398 billion in September 2000 to less than C$5 billion in August 2002, as Nortel's stock price plunged from C$124 to C$0.47. When Nortel's stock crashed, it took with it a wide swath of Canadian investors and pension funds and left 60,000 Nortel employees
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]
Website. ribboncommunications.com. Ribbon Communications Inc. is a public company that makes software, IP and optical networking solutions for service providers, enterprises and critical infrastructure sectors. The company was formed in 2017, following the merger of Genband and Sonus Networks and is headquartered in Plano, Texas. [2]
John Andrew Roth is a Canadian retired business executive.He was the chief executive officer and chairman of Nortel Networks between 1997 and 2001. [1] While he was called "the most successful businessman in modern Canadian history" by Time magazine and named Canada's CEO of the Year by a Bay Street panel in the fall of 2000, [2] by the ignominious end of his career it became clear that his ...
Wellfleet was an important competitor to Cisco Systems in the router market, ultimately commanding up to a 20% market share of the network router business worldwide. The combined company was renamed Bay Networks, as SynOptics was based in the San Francisco Bay Area and Wellfleet in Greater Boston , nearby to Massachusetts Bay .
Ciena was founded in 1992 under the name HydraLite by electrical engineer David R. Huber. [12] [13] Huber served as chief executive officer, while his former employer, Optelecom, an optical networking company, provided "management assistance and production facilities," [13] and co-founder Kevin Kimberlin "provided initial equity capital during the formation of the Company". [14]
Frank Dunn. Frank A. Dunn is a Canadian business executive who was the chief executive officer of Nortel Networks. In 2007, the U.S. Securities and Exchange Commission filed civil fraud charges against him, and three former senior executives, in a wide-ranging financial fraud scheme. [1]
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 ...