LONDON (AP) — London organizers have replaced bankrupt Canadian technology sponsor Nortel Networks with Cisco for the 2012 Olympics.
The London 2012 organizing committee said on Friday that Nortel, which is selling off its assets, could no longer provide the services required for the games.
While Nortel was a "tier one" sponsor, Cisco will only be a "tier two" provider.
California-based Cisco will fulfill all of Nortel's obligations in the new deal, which is worth about $32 million in cash and services.
Organizers have raised almost $810 million by signing up 20 sponsors providing services and cash. The sponsorship target is between $1.05 billion and $1.13 billion.
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