Press Release: Commission approves Flextronics’ acquisition of Nortel manufacturing activities

The European Commission authorised on 29 October 2004 the acquisition by Flextronics of some of Nortel's manufacturing assets, employees and related supply chain activities as well as some assets and employees relating to hardware and software design for optical networking products ('the target business'). The parties also entered a four years outsourcing agreement according to which Nortel will source all of its manufacturing requirements from Flextronics.