Transactions
Aug. 8, 2000
Cleary Gottlieb: NORTEL NETWORKS ACQUIRES ALTEONWEB FOR $7.3 BILLION
Nortel Networks Corp., the world's No. 2 network equipment supplier, has bought Web switch developer AlteonWeb Systems Inc. The stock deal is valued at about $7.3 billion.
Brompton, Ontario-based Nortel will use Alteon's technology to build sophisticated communications systems that deliver content over the Internet at unprecedented levels of speed and reliability. Alteon is base...