On May 24, 2001, Aastra Technologies Limited, a developer and distributor of telecommunications equipment, acquired some of the assets of Nortel Networks MBS (Meridian Business Sets) Centrex and ISDN telephone terminals for approximately $55 million. Aastra purchased assets that include product manufacturing tools, certain intellectual property, test equipment, contracts and inventory. Nortel Networks will also license certain intellectual property rights to telephone terminals.
Aastra’s legal team was comprised of Aastra General Counsel John Tobia and external counsel George S. Takach of McCarthy Tétrault. Nortel Networks Limited was represented by in-house counsel Robert Fishman, Doreen Farthing and Eric Jensen.