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Nortel Networks Inc.’s decision to liquidate and ultimately sell its wireless network infrastructure business to Nokia Siemens Networks BV is “positive news” for Airvana Inc., the Chelmsford-based maker of networking technologies.
Airvana (Nasdaq: AIRV) sells its mobile broadband network infrastructure products through original equipment manufacturer agreements with companies such as Toronto-based Nortel. Nortel represented 95 percent of the company’s $9.2 million in revenue for the first quarter of 2009, according to a regulatory filing.
The sale to Nokia Siemens lends stability to what has been a volatile influence on its business.
“Nortel’s proposed sale of its (Code Division Multiple Access) business is positive news for Airvana and for Nortel’s customers,” said Randy Battat, Airvana’s president and CEO in a statement.
Since Nortel filed for bankruptcy in January, Airvana says it has been collecting accounts receivable related to products and services purchased after the bankruptcy. Collection of some $36.4 million in revenue for goods delivered before January are subject to bankruptcy proceedings.
“We expect to work in close partnership with Nokia Siemens Networks in the years ahead, investing in our EV-DO roadmap, supporting our product portfolio to fulfill customer needs and continuing to deliver current and planned products and services to existing Nortel customers as well as new customers. We look forward to fulfilling the needs of wireless operators worldwide under this new relationship,” Battat added.
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