Nortel To Acquire Subsidiary of Bluesocket - Burlingon, MA

Bluesocket, a wireless technology company, announced on Wednesday that its Pingtel subsidiary, has been acquired by Nortel. Pingtel provides open source communications technology. Financial terms of the deal were not released. Under the terms of the agreement, Nortel will acquire the key assets of Pingtel, and its employees will be integrated into Nortel’s Billerica facilities. Bluesocket said it will invest the proceeds of the acquisition into product development and sales activities related to its core wireless business.

http://www.bluesocket.com/35e9886c-2ac3-48ba-9967-385f6b18bc25/news-press-release-detail.htm