Nortel Makes Network Security Fundamental With New Global Services
Experience Offers Edge in Combating Threats to Network, Information Integrity
JUNE 19, 2006, TORONTO - Nortel* [NYSE/TSX: NT] has expanded its Global Services portfolio with new offerings designed to help enterprises and service providers make security fundamental to transforming their networks with the latest converged IP, multimedia and wireless technologies.
Security is one of Nortel’s five key focus areas for services. Nortel’s extensive networking expertise can provide an edge in effectively combating threats to network and information integrity.
The newest Nortel Global Services for Security include Security Compliance Services and Managed Security Services. Along with Nortel’s Security Consulting Services, these new offerings can make business simpler for network managers by helping to minimize risk, reduce costs and comply with regulations.
Montefiore Medical Center, located in the Bronx, New York, has already relied on Nortel’s Security Consulting Services as part of an ongoing network expansion to include mobility and new applications.
“Working with a trusted partner like Nortel is paramount not only to our patients’ peace of mind but also to continuing our tradition of excellence,” said Brian Hoch, director of computing services for Emerging Health Information Technology, a Montefiore subsidiary. “Nortel’s security audit has enabled us to move forward with confidence in rolling out our wireless network and to secure next-generation services for staff and patients.”
Nortel has also continued its efforts to provide a breadth of security services and expertise. This includes acquiring an equity stake in SecureInfo, a recognized leader in information security including managed security services, security compliance and policy solutions, and professional security services. In addition, Nortel continues to certify other select, trusted professionals with regional and specialized security experience. This complements the security and information assurance services that Nortel Government Solutions, a U.S. company wholly owned by Nortel, provides to the U.S. Federal Government market.
Compliance services help customers identify gaps in their regulatory posture and implement and maintain security best practices. Nortel’s Security Compliance Services help businesses adhere to key security-related regulations like Sarbanes-Oxley, Gramm-Leach Bliley Act (GLBA), and the Health Insurance Portability and Accountability Act (HIPAA) for companies doing business in the United States; and the Personal Information Protection and Electronic Documents Act (PIPEDA) in Canada. They also address global standards like ISO 17799, and the PCI (Payment Card Industry) Data Security Standard mandated by all major credit card issuers to protect cardholder information and transactions.
“Compliance is critical for our customers, particularly in markets like healthcare and finance,” said Rod Wallace, director, Security Services, Nortel. “We’re helping to streamline compliance across multiple regulations, standards and guidelines, and to measure the effectiveness of security policies.”
Nortel’s Managed Security Services are designed to help reduce the cost of managing security across multi-vendor networks. Nortel can manage security for as few or as many elements as required, including single point-of-contact responsibility for entire networks. This allows customers to focus more efficiently on business objectives.
According to IDC, a premier global provider of IT and telecommunications market intelligence, the worldwide market for information security services is expected to approach US$17 billion in 2006. IDC expects this figure to increase to approximately US$32.59 billion by 2010, representing a compound annual growth rate (CAGR) of 17.7 percent.
Nortel’s Global Services include a full range of integrated services for design, deployment, management and maintenance of end-to-end multi-vendor network solutions, including seamless migration to next generation technologies.
Nortel is a recognized leader in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the world’s most critical information. Our next-generation technologies, for both service providers and enterprises, span access and core networks, support multimedia and business-critical applications, and help eliminate today’s barriers to efficiency, speed and performance by simplifying networks and connecting people with information. Nortel does business in more than 150 countries. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.
Certain statements in this press release may contain words such as “could”, “expects”, “may”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “envisions”, “seeks” and other similar language and are considered forward-looking statements or information under applicable securities legislation. These statements are based on Nortel’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which Nortel operates. These statements are subject to important assumptions, risks and uncertainties, which are difficult to predict and the actual outcome may be materially different. Further, actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following (i) risks and uncertainties relating to Nortel’s restatements and related matters including: Nortel’s most recent restatement and two previous restatements of its financial statements and related events; the negative impact on Nortel and NNL of their most recent restatement and delay in filing their financial statements and related periodic reports; legal judgments, fines, penalties or settlements, or any substantial regulatory fines or other penalties or sanctions, related to the ongoing regulatory and criminal investigations of Nortel in the U.S. and Canada; any significant pending civil litigation actions not encompassed by Nortel’s proposed class action settlement; any substantial cash payment and/or significant dilution of Nortel’s existing equity positions resulting from the finalization and approval of its proposed class action settlement, or if such proposed class action settlement is not finalized, any larger settlements or awards of damages in respect of such class actions; any unsuccessful remediation of Nortel’s material weaknesses in internal control over financial reporting resulting in an inability to report Nortel’s results of operations and financial condition accurately and in a timely manner; the time required to implement Nortel’s remedial measures; Nortel’s inability to access, in its current form, its shelf registration filed with the United States Securities and Exchange Commission (SEC), and Nortel’s below investment grade credit rating and any further adverse effect on its credit rating due to Nortel’s restatements of its financial statements; any adverse affect on Nortel’s business and market price of its publicly traded securities arising from continuing negative publicity related to Nortel’s restatements; Nortel’s potential inability to attract or retain the personnel necessary to achieve its business objectives; any breach by Nortel of the continued listing requirements of the NYSE or TSX causing the NYSE and/or the TSX to commence suspension or delisting procedures; (ii) risks and uncertainties relating to Nortel’s business including: yearly and quarterly fluctuations of Nortel’s operating results; reduced demand and pricing pressures for its products due to global economic conditions, significant competition, competitive pricing practice, cautious capital spending by customers, increased industry consolidation, rapidly changing technologies, evolving industry standards, frequent new product introductions and short product life cycles, and other trends and industry characteristics affecting the telecommunications industry; any material and adverse affects on Nortel’s performance if its expectations regarding market demand for particular products prove to be wrong or because of certain barriers in its efforts to expand internationally; any reduction in Nortel’s operating results and any related volatility in the market price of its publicly traded securities arising from any decline in its gross margin, or fluctuations in foreign currency exchange rates; any negative developments associated with Nortel’s supply contract and contract manufacturing agreements including as a result of using a sole supplier for key optical networking solutions components, and any defects or errors in Nortel’s current or planned products; any negative impact to Nortel of its failure to achieve its business transformation objectives; additional valuation allowances for all or a portion of its deferred tax assets; Nortel’s failure to protect its intellectual property rights, or any adverse judgments or settlements arising out of disputes regarding intellectual property; changes in regulation of the Internet and/or other aspects of the industry; Nortel’s failure to successfully operate or integrate its strategic acquisitions, or failure to consummate or succeed with its strategic alliances; any negative effect of Nortel’s failure to evolve adequately its financial and managerial control and reporting systems and processes, manage and grow its business, or create an effective risk management strategy; and (iii) risks and uncertainties relating to Nortel’s liquidity, financing arrangements and capital including: the impact of Nortel’s most recent restatement and two previous restatements of its financial statements; any inability of Nortel to manage cash flow fluctuations to fund working capital requirements or achieve its business objectives in a timely manner or obtain additional sources of funding; high levels of debt, limitations on Nortel capitalizing on business opportunities because of credit facility covenants, or on obtaining additional secured debt pursuant to the provisions of indentures governing certain of Nortel’s public debt issues and the provisions of its credit facilities; any increase of restricted cash requirements for Nortel if it is unable to secure alternative support for obligations arising from certain normal course business activities, or any inability of Nortel’s subsidiaries to provide it with sufficient funding; any negative effect to Nortel of the need to make larger defined benefit plans contributions in the future or exposure to customer credit risks or inability of customers to fulfill payment obligations under customer financing arrangements; any negative impact on Nortel’s ability to make future acquisitions, raise capital, issue debt and retain employees arising from stock price volatility and further declines in the market price of Nortel’s publicly traded securities, or any future share consolidation resulting in a lower total market capitalization or adverse effect on the liquidity of Nortel’s common shares. For additional information with respect to certain of these and other factors, see Nortel’s Annual Report on Form 10-K/A, Quarterly Report on Form 10-Q and other securities filings with the SEC. Unless otherwise required by applicable securities laws, Nortel disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
*Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks.
Use of the terms “partner” and “partnership” does not imply a legal partnership between Nortel and any other party.
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