TORONTO-Nortel Networks announced an agreement to acquire all of the common shares of Architel Systems Corp., a provider of software systems to Internet service providers, for an estimated $395 million in Nortel common shares.
Nortel noted that with the acquisition it will expand its Preside portfolio to become the key enabler of next-generation Internet services, allowing service providers to deliver value-added services to businesses and consumers with greater speed.
Nortel said it will exchange 0.21 of a common share for each Architel share on a fully diluted basis, resulting in the company issuing 3.63 million common shares for the purchase.
