Back in 1999, when Nortel was on a buying spree and reeling in record profits, it plunked down US$2.1 billion dollars for Clarify Inc., a leader in the CRM space that was bringing in $250 million in revenues annually. Now, in July of 2001, with Nortel expecting losses in the order of US$19.2 billion, Clarify may be jettisoned at a significant loss.
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Ever Synergy Enough to Support this Marriage? Nortel and Clarify: Was There Ever Synergy Enough to Support this Marriage? R. Garland - July 26, 2001 The Nortel and Clarify Marriage On October 18, 1999, Nortel Networks , proclaimed that it was entering into a definitive merger agreement with the CRM vendor Clarify Inc ., at the time the world's second largest provider of front office [read: CRM ] solutions for eBusiness. Nortel was buying all the common shares of Clarify for US$2.1 billion in its