Friday, May 20, 2005

Nortel taps IBM for R&D assistance

Via Reuters.

Communications equipment maker Nortel Networks Corp. is set to announce on Friday plans to work with IBM on research and development, helping Nortel to cut costs and marking a victory for IBM as it pushes into contract engineering services.

Executives from Brampton, Ontario-based Nortel and IBM of Armonk, New York, said they are setting up a joint research and development center in Research Triangle Park, North Carolina, where both have large, established research operations.

Financial terms were not disclosed.


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