Nortel's GSM Biz Headed to Auction Block
Nortel has officially put up its global GSM and GSM-R (for railroads) business units for sale. The company has taken the first steps in the U.S. and Canada to facilitate the sale. Bids for the GSM/GSM-R business units must be submitted by November 5, with an open auction to follow November 9. Nortel declared bankruptcy earlier this year, and eventually decided to sell off its business in pieces rather than restructure.
Pantech Puts Itself Up for Sale
Pantech, based in Korea, has staked a For Sale sign in its front lawn. The company, which declared the equivalent of bankruptcy last month, is seeking a buyer to scoop up the entire business.
Imagination Technologies Puts Itself Up for Sale
Imagination Technologies today said it has put the entire company up for sale following its loss of business with Apple. Earlier this year Apple announced plans to make its own GPU for the iPhone, a part Imagination Technologies has manufactured for Apple for years.
Pantech Files for Bankruptcy In the US
Pantech's U.S. operations filed for Chapter 15 bankruptcy today, following similar legal moves in the company's home market of Korea.
Ting to Add GSM Support Next Year
Ting, an MVNO that resells access to Sprint's network, today said it plans to expand its service next year by adding support for GSM devices. Beginning in February, anyone with an unlocked GSM handset will be able to sign up for Ting service.
Imagination to Divest Biz Units In Wake of Losing iPhone Contract
Imagination Technologies said it plans to sell two of its business units and strengthen its balance sheet before its years-old partnership with Apple expires. Earlier this year Apple told Imagination Technologies that it will no longer need the company's GPUs for the iPhone in 15 to 24 months time.