Nortel Networks Ups Ownership of German, French JV
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Nortel Networks announced Thursday that is has increased its ownership of joint ventures in Germany and France in a bid to boost its position in building the European high performance Internet.
In Germany, Nortel Networks upped its ownership of Nortel Dasa Network Systems GmbH and Co. KG, (Nortel Dasa), its joint venture with DaimlerChrysler Aerospace, from approximately 50 per cent to 58 per cent.
In France, Nortel Networks increased its 50 per cent stake in Matra Nortel Communications SAS (MNC), a joint venture with Aerospatiale Matra, to 55 per cent.
Clarence Chandran, president of the Service Provider and Carrier Group at Nortel Networks, said the increased ownership in the two companies underpinned Nortel Networks' commitment to delivering high-performance Internet capabilities to carriers, service providers and enterprises across Europe.
Nortel Dasa has been instrumental in winning major contracts for Nortel Networks in Germany, including a $200 million deal to act as systems integrator for facilities-based application service provider EINSTEINet, announced in January.
Nortel Dasa employs 1,450 people in 25 locations in Germany.
The French venture MNC has been similarly successful, winning contracts with France Telecom for converting data networks to advanced Internet protocol (IP) networks, and with many other major firms.
MNC reportedly has a 30 per cent share of the enterprise solutions market in France.
Worldwide, Nortel Networks serves carrier, service provider and enterprise customers, and had 1999 revenues of $21.3 billion.