Nortel, Ofek Join on Israeli Network
TEL AVIV, Nov. 8 -- Nortel Networks and Israel's Ofek New World have signed an agreement that makes Nortel a preferred supplier for building a new Israeli communications network based on Internet protocol. Financial details were not disclosed although Israel's Globes financial newspaper estimated it was worth $700 million.
Ofek New World, a wholly owned subsidiary of Eurocom Communications Ltd, said at a news conference that the company and its partners plan to invest $1 billion in the project over the next few years if approved for a license by the government. Israel's government recently issued a preliminary tender for setting up domestic communications services to introduce competition against state-run telecom monopoly Bezeq Israel Telecoms. Ofek received a license from the government to install fiber optic cables and hopes to receive another license to provide domestic phone services, said Eurocom president and CEO Shaul Elovitch.
LATEST NEWS
- Imager Captures Amplitude, Phase Info Without Digital Processing
Jun 19, 2024
- Canon to Produce Coating Materials for Perovskite Solar Cells
Jun 19, 2024
- Ayar Labs Adds Vice President: People in the News: 6/19/24
Jun 19, 2024
- OIF Project to Address 224G Full Linear Optical Modules
Jun 18, 2024
- Programmable Sensor Provides Fast, High-Quality Imaging of Neural Changes
Jun 18, 2024
- Photon Emission Control for Quantum Applications Sets Precision Record
Jun 17, 2024
- Constantin Häfner Adds Boards Responsibilities at Fraunhofer
Jun 17, 2024
- Vector Photonics Receives Total $3.7M for Laser Commercialization: Week in Brief: 6/14/24
Jun 14, 2024