Ciena wins bid for Nortel’s optical unit

Ciena Corp. (Nasdaq:CIEN) will offer jobs to at least 2,000 Nortel employees after winning a three-day auction for the bankrupt Canadian company’s optical and Ethernet business units.

Ciena Corp. (Nasdaq:CIEN) will offer jobs to at least 2,000 Nortel employees after winning a three-day auction for the bankrupt Canadian company’s optical and Ethernet business units.

Ciena’s final cash and debt offer was worth US$769 million, about US$248 million more than it initially bid in October, the company said Monday.

The Maryland-based company emerged on top after a three-day auction in New York that began Friday, beating out telecom equipment maker Nokia Siemens.

The employee commitment appears to secure the jobs of the majority of workers

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