Ericsson Purchases Telcordia for $1.15 Billion
Ericsson today announced that it has agreed to purchase Telcordia for the sum of $1.15 billion in cash. Telcordia, which is based in New Jersey, creates mobile, broadband, and business communications software and services. Telcordia's 2,600 employees will be absorbed by Ericsson, which will use Telcordia's expertise to provide better operations support systems to its customer base. The deal is expected to close in the fourth quarter of 2011.
Verizon to Sell Landline Biz to Frontier for $10 Billion
Verizon Communications today confirmed plans to sell part of its wireline telephone and internet business to Frontier Communications for $10 billion. The deal covers Verizon's consumer and business assets in California, Florida, and Texas.
Ericsson to Dump Mobile Modem Biz
Ericsson today said it will cease to make wireless modems for mobile devices and cut about 1,000 jobs as a result. Ericsson cited fierce competition in the space as playing a role in its decision.
Nokia to Buy Alcatel-Lucent, Mulling Options for HERE Maps
Nokia today said it has agreed to acquire Alcatel-Lucent for $16.6 billion. The combined companies would be a giant in the telecom equipment space with more than 100,000 employees.
Verizon to Pay $350M Less for Yahoo After Privacy Breach
Verizon and Yahoo today said they've amended the terms of their acquisition, first announced in July 2016, which will see the sale price drop by $350 million. The deal has been in jeopardy since December when Yahoo disclosed a material security breach that impacted more than 1 billion users.