Ericsson and Lucent fight over Riverstone

Ericsson has made an eleventh hour bid to buy the assets of bankrupt Riverstone Networks.

Ericsson has made an eleventh hour bid to buy the assets of bankrupt Riverstone Networks.

Last month, Lucent made the first move to buy the assets of Riverstone for $170m (£100m), but Ericsson has now offered $178m. The pair will face off later today at a New York auction for the company.

Both want Riverstone to help bolster their network infrastructure equipment portfolio.

Riverstone is a specialist in Ethernet hardware that can be used in carrier networks. This market sector is growing as service providers increasingly opt for Ethernet-based systems, which are seen as more flexible than traditional carrier network solutions.

Ericsson is on an expansion strategy after recently acquiring the majority of Marconi’s network hardware assets.

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