Nortel Asset Scooped Up by Radware

Network specialist Radware(RDWR Quote) has swooped down to buy part of Nortel's(NT Quote) switch business, as the troubled telecom equipment manufacturer attempts to put its house in order.

The asset purchase agreement finally ends speculation that the Israeli firm was poised to grab some of Nortel's products. Rumors emerged last month that Radware was targeting Nortel's metro Ethernet Networks business, but is now acquiring the firm's Alteon enterprise switch family.

Nortel, which recently filed for Chapter 11 bankruptcy protection while it restructures its business, suspended the sale of its key metro Ethernet Networks division earlier this month. ...