Nortel has sold its wholesale Internet Service Provider (ISP) business to Digitel, a little known enterprise telecoms services supplier based in Atlanta.
The unit, called Nortel Information Networks, will be renamed Neonova and will boost Digitel's revenues to $25 million from $14 million. Financial details of the deal were not disclosed.
Bryan Tate, Digitel's chairman and chief executive, said the acquisition would enable the firm to meet its ambitions in the national and international telecoms services arena. "This acquisition fulfills our need to complete our offerings for a single source of telecoms and Internet services to our customers," he said.
Nortel Information Networks, which will continue to be headquartered in Raleigh, North Carolina, provides wholesale Internet services to 45 other ISPs, and Nortel customers, boasting a total of 50,000 US subscribers.
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