Wireless Stock Watch: With Nortel bankrupt, a cloud lifts for Airvana

The news that bankrupt Nortel Networks is selling its wireless infrastructure business to Nokia Siemens Network (NOK) bodes well for Chelmsford, Mass.-based Airvana (AIRV). Airvana, which has been in the wireless infrastructure business since it was founded in 2000, provides software that governs and manages the flow of data across networks, to enable wireless broadband service over CDMA networks.

But my concern about Airvana has always been over its dependence on Nortel Networks for its infrastructure equipment which incorporates Airvana's software into its hardware. Nortel, in fact, represented 95 percent of Airvana's $9.2 million in revenue for the first quarter of 2009.