Research in Motion Moves into Nortel's Wireless Plan
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Following up on Nortel's recent wireless initiatives, the deal is to co-develop future wireless Internet technologies and jointly pursue international wireless Internet market opportunities.
As part of the agreement, Nortel Networks has agreed to make a $25 million equity investment in RIM at prevailing market prices.
Research In Motion Limited designs, manufactures and markets wireless solutions for the mobile communications market. It provides solutions for access to e-mail, messaging, Internet and intranet-based applications from wireless devices.
Nortel Networks latest wireless plays include plans to launch trials with Vodafone in the U.K.