By acquiring 60.2% of MNCD, SPIE (under the brand of Spie Netcom) will enhance its existing network capability as part of its aggressive European strategy to provide telecom services and distribution to enterprises. According to this agreement, Matra Nortel Communications will continue to hold 19.9% of MNCD, with EADS Defence and Security Networks (EDSN) acquiring 19.9%.
This agreement is a further demonstration of Nortel Networks progress against its work plan in which the company is aligning its cost structure and focusing investments to deliver the key next generation solutions in its core market areas.
This transaction is another step in the recently announced redeployment of the telecommunications activities of Nortel Networks and EADS, and supports Nortel Networks strategy to develop indirect sales channels through partners such as Value Added Resellers and Value Added Distributors. Matra Nortel Communications will continue to manage major corporate accounts in the French market. Nortel Networks, SPIE and EADS Sign Distribution and Services Agreement in France.
SOURCE: COMPANY PRESS RELEASE
