Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Nortel Completes $3.8 Bln Purchase of Software Maker Clarify

excerpt from Bloomberg:

Brampton, Ontario, March 16 (Bloomberg) -- Nortel Networks Corp., North America's No. 2 phone-equipment maker, completed its acquisition of Clarify Inc., paying $3.8 billion in stock to add software that helps companies do more business online.

Nortel paid 1.3 shares for each Clarify share, for a total of 31.7 million shares. Nortel's shares fell 1 1/4 to 119 3/4 in U.S. trading. They've more than doubled since Oct. 18 when Nortel announced that it would buy Clarify.


Clarify, based in San Jose, California, and founded in 1990, sells the software to companies such as Microsoft Corp., British Telecommunications Plc, General Electric Co. and others looking to fill orders or respond to requests faster. Its 1999 sales rose 77 percent to $230.7 million. Profit, excluding costs for acquisitions, rose to $20.4 million, or 78 cents a share, from $7.3 million, or 32 cents.


Nortel in October said the purchase won't affect its earnings this year and start boosting profit in 2001.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.