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Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →Nortel Networks agreed in March 2000 to acquire CoreTek, a Massachusetts optical-components company, for up to $1.43 billion in Nortel common shares. CoreTek made MEMS-based tunable lasers and detectors intended for high-capacity fiber-optic networks. The deal fit Nortel’s plans for an all-optical Internet, but its laser operations were closed by 2002.
What company did Nortel buy, and how much did it pay?
Nortel announced its agreement to acquire CoreTek on March 22–23, 2000. CoreTek was based in Wilmington, Massachusetts, and the proposed consideration was up to $1.43 billion in Nortel common shares, according to Photonics Spectra and the Los Angeles Times.
That figure describes the maximum announced stock consideration, not a cash purchase price. It should not be confused with the later $119.0 million transaction in which Bookham acquired Nortel’s optical-components business in November 2002.
What did CoreTek make?
CoreTek developed MEMS-based tunable lasers and detectors, along with related optical components for fiber-optic transmission. Unlike a fixed-wavelength laser, a tunable laser can be adjusted to operate at different wavelengths. That capability can help network operators use the wavelengths available in fiber systems more flexibly.
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Why were tunable lasers important to Nortel?
Nortel presented CoreTek’s technology as a building block for an all-optical Internet. The company said the technology was designed for 10-Gbit/s systems, with a path toward 40- and 80-Gbit/s systems, as reported by Photonics Spectra. These were target system rates in Nortel’s stated rationale, not a claim that CoreTek had already deployed networks operating at those speeds.
Clarence Chandran, then president of Nortel’s Service Provider and Carrier Group, described the strategic fit this way: “CoreTek’s capabilities are an important building block in our vision to transform today’s Internet into the all-optical Internet of tomorrow.” Nortel said CoreTek complemented its Qtera acquisition and its proposed acquisition of Xros, part of a broader effort to expand optical-networking capacity.
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Did the technology reach a commercial product?
Nortel’s 2001 report described work on a tunable-laser Laser Locker Card. It used an optical feedback loop to lock the laser to a wavelength, and Nortel expected a revenue contribution by the fourth quarter of 2002, according to Nortel Networks’ 2001 report. That projection shows product-development activity, but it does not establish that the expected contribution occurred.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to CoreTek after the acquisition?
A 2014 Nortel technology-history report from the University of Ottawa says Nortel had closed the CoreTek laser operations by September 2002. In November of that year, Bookham acquired Nortel’s optical-components business. Bookham’s SEC-filed report later recorded total consideration of $119.0 million for that transaction; it was a sale of Nortel’s optical-components business, not a restatement of the original CoreTek deal price (Bookham SEC filing).
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Key dates
| Date | Event |
|---|---|
| March 22–23, 2000 | Nortel announced/agreed to acquire CoreTek for up to $1.43 billion in Nortel common shares; reported by Photonics Spectra and the Los Angeles Times. |
| 2001 | Nortel described its Laser Locker Card development and projected a revenue contribution by Q4 2002; Nortel Networks’ 2001 report. |
| By September 2002 | The CoreTek laser operations were reported closed; University of Ottawa report, 2014. |
| November 2002 | Bookham acquired Nortel’s optical-components business; its later SEC filing reported $119.0 million in total consideration; Bookham SEC filing. |
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