BlueSocket Selling Pingtel

BlueSocket Inc., a Burlington, Mass.-based provider of WLAN security and management systems, has sold its Pingtel Inc. subsidiary to Nortel (NYSE: NT) for an undisclosed amount. The deal comes just one year after BlueSocket acquired Pingtel from a group of venture capitalists. BlueSocket has raised around $67 million in VC funding since 1999, from Vesbridge Partners, Menlo Ventures, Boulder Ventures, Ascent Venture Partners, Ridgewood Capital and Ironside Capital Group.

 

PRESS RELEASE

 

Bluesocket, Inc., the leader in trusted wireless access and enterprise mobility, today announced that the business of its Pingtel Corp. subsidiary, a recognized leader in open source enterprise unified communications solutions, has been acquired by Nortel (TSX: NT) (NYSE: NT).

 

Under the terms of the agreement, Nortel will acquire the key assets of Pingtel from Bluesocket and Pingtel employees will be integrated into Nortel's Billerica, Massachusetts facilities. Bluesocket will invest the proceeds of the acquisition in product development, sales and marketing activities related to its core wireless LAN business.

 

“The acquisition of Pingtel will enable Bluesocket to expand its leadership position in the enterprise wireless and mobility markets,” said Mads Lillelund, CEO of Bluesocket. “This strategic investment in our wireless LAN business strengthens our commitment to providing customers with mobility solutions that offer the greatest level of security, scalability and ease of use.”

 

Bluesocket's long-standing expertise in wireless security and its flexible Edge-to-Edge