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Nortel Invests In Sasken, Trapeze
LONDON Nortel has invested $10 million in Indian telecommunications group Sasken Communication Technologies Ltd for an undisclosed stake. The companies have also signed an amendment to an existing agreement under which they will continue to work together to develop new software and deploy Nortel networking equipment.
Sasken plans to use the money raised to fuel its growth through acquisitions and meet its target of becoming India's largest communications solutions provider.
Meanwhile Nortel says the investment is part of its strategy to increase its presence in the fast growing markets of India and the Asia Pacific region.
Sasken, a pioneer in telecom research and development (R&D) outsourcing, has been a key supplier to Nortel since 1991, and is currently focused on supporting Nortel's GSM wireless and enterprise communications gear. As part of the extended deal between the companies, Sasken will also play a major role in training, technical support and other engineering services.
Sasken focuses on a combination of complementary IP software components, research and development consultancy and software services to leading semiconductor manufacturers, network equipment companies, and global wireless handset developers. It was established in 1989 and employs over 2,000 staff, operating from R&D centers in Bangalore and Pune, India with offices throughout North America, Asia and Europe.
Separately, Nortel has participated in a Series C funding round at Wireless LAN systems provider Trapeze Networks (Pleasanton, Calif.) that raised $17.5 million and brought total funding in the company to $67.5 million.
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