Solectron Bucks the Nasdaq
Company announces major outsourcing deal with Nortel.
When Solectron announced earnings a few weeks ago, it indicated that a major deal was in the works. The company delivered on that promise with the announcement that it is acquiring a considerable chunk of Nortel Networks' (NT) manufacturing facilities. The deal falls right in line with the industry's largest electronics-manufacturing-service's core business. Solectron will purchase the Nortel assets for $900 million and in exchange will be on the receiving end of about $10 billion in sales from the telecommunication-equipment maker over the next four years.
Jeremy Lopez does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.