On December 15, 1999, Newbridge Networks Corporation completed the acquisition of Stanford Telecommunications, Inc. of Sunnyvale, California. The transaction resulted in Newbridge retaining the wireless broadband products group and the satellite personal communications group of Stanford Telecom. In connection with the acquisition, certain businesses of Stanford Telecom were sold to third parties, which included the sale of its defense communications business to ITT Industries for US$191 million. The net cost of the acquisition to Newbridge was approximately US $240 million. Newbridge’s Canadian counsel on the transaction was Osler, Hoskin & Harcourt LLP.
Oslers’ team included Christopher S. Murray working out of the Toronto office, and J. Craig Wright and Edward Vandenberg working out of the Ottawa office. For U.S. counsel, Newbridge relied on Roger Rappoport and Christie Vail of Heller Erman White & McAuliffe in Palo Alto, and Raul Grable of Hunton & Williams in New York. Stanford Telecom’s counsel was Thelen Reid & Priest LLP of San Jose. The Stanford Telecom acquisition followed closely on the heels of Newbridge’s acquisition of TimeStep Corporation of Kanata, Ontario on September 30, 1999 for approximately US$85 million. Newbridge’s counsel on the TimeStep acquisition was also Osler, Hoskin & Harcourt LLP, whose team included Elizabeth M. Walker, Bonnie C. Oldham and Benjamin Gray. TimeStep was represented by Deborah L. Weinstein and David Price of LaBarge Weinstein.