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Ericsson Finalizes Acquisition of Nortel's CDMA/LTE Assets

Nov 13, 2009, 1:04 PM by Eric M. Zeman

Today Ericsson said that it has completed its purchase of Nortel's CDMA and LTE wireless businesses. The acquisition includes CDMA contracts with Verizon, Sprint, U.S. Cellular, and Leap, as well as LTE assets, certain patents and patent licenses relating to CDMA and LTE. Ericsson is paying $1.13 billion for these Nortel assets. Nortel employees that worked in these business units will be folded into Ericsson's operations. The deal still needs to gain regulatory approval.

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Comments

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This forum is closed.

muchdrama

Nov 13, 2009, 11:13 PM

Nortel employees that worked in these business units will be folded into Ericsson's operations.

There's something you don't hear every day.

Azeron

True. This does not appear to be a cost cutting acquisition, but rather Ericsson attempting to seize some major contracts and the workers will still be needed.

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