Nortel sells mobile network to Ericsson and Kapsch

(AP) -- U.S. and Canadian courts have approved Swedish wireless company LM Ericsson's $1.13 billion bid to buy next-generation wireless technology and other assets from insolvent telecom equipment maker Nortel Networks Corp.

Canadian telecom equipment maker Nortel said Monday it reached a deal to sell its enterprise solutions business to US-based Avaya for 475 million dollars pending approval of a bankruptcy court.

(AP) -- Ciena Corp. is offering cash and stock worth $521 million to acquire some of Nortel's most-prized remaining business units as the fallen telecommunications company continues to liquidate.

(AP) -- Nortel Networks, once a technology giant, has decided to sell itself off in pieces rather than attempt to emerge from bankruptcy as a restructured company.

San Jose router producer Tasman networks has been acquired by Nortel for more than $99 million cash in a deal expected to close in the first quarter.

(AP) -- London Olympic officials on Friday replaced bankrupt Canadian technology sponsor Nortel Networks with Cisco for the 2012 Games, a move that will cost organizers $19.4 million in revenue.

The board of Yahoo! has agreed to a deal to purchase the popular blogging platform Tumblr for $1.1 billion, the Wall Street Journal reported Sunday.

(AP)—Yahoo CEO Marissa Mayer is promising to unveil "something special" Monday in New York as she tries to attract more traffic and advertising to the Internet company.

(AP)—The Canadian government is trying to lure Silicon Valley tech workers who are frustrated by U.S. visa policies, just as Congress wrestles with a long-sought overhaul of America's immigration system.

(AP)—Bloomberg LP, the financial news and information service, on Friday said it has appointed Samuel Palmisano, the former CEO of IBM, as an independent adviser on its privacy and data standards.

Apple and US lawmakers are gearing up for a showdown over taxes—specifically how to deal with the huge stockpile of cash held by Apple and other multinational firms offshore.

Yahoo! scheduled a news conference Monday amid reports it was in talks on with the popular blogging platform Tumblr about an acquisition or strategic alliance.