Brief: Nortel to Buy Sonoma in $540M Stock Deal

FRAMINGHAM (08/18/2000) - Nortel Networks Corp. has entered a definitive agreement to acquire broadband access device manufacturer Sonoma Systems Inc. for as much as US$540 million in Nortel stock. Marina del Rey, Calif.-based Sonoma produces access devices that are installed at customer premises, allowing service providers to deliver integrated services, including Internet access, video services and Internet telephony, to business customers. Brampton, Ontario-based Nortel said in a statement that it hopes the acquisition will let its clients offer managed broadband services on a common platform stretching from the optical Internet to the edge of the network.

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