Actually it is not bankrupt but the Globe and Mail is reporting that Nortel has filed for bankruptcy protection from its creditors in Delaware. This must be a big shock to Canadians to see one of their iconic corporations go down and surprise to bondholders while shareholders might see their investments wiped out!.
Nortel easily qualified as the Canada's largest company in 2000, with a $366-billion (Canadian) market capitalization and 95,000 employees. But it's fall is also a signal for big telecom giants how the market is playing in these troubled times and to us look carefully into the VoIP Market and the playing field.
Nortel was among the telecommunication equipment suppliers such as Cisco, Alcatel Lucent and now the competition is shrinking.
What will happen to the SIPFoundry now! Thanks also goes for not buying the Asterisk!
Friday, January 16, 2009