Ericsson to acquire Nortel’s wireless assets
July 26th, 2009 Leave a comment Visited 41 times, 1 so far today
Ericsson to acquire Nortel’s wireless assets
Nortel Networks has announced that Ericsson has won the bid to acquire their wireless assets.
The deal is worth around USD 1.13 dollars.
This transaction would be conducted on a cash and debt-free basis.
It includes both CDMA and LTE operations of Nortel Networks.
This acquisition deal would however require the approval of the relevant Canadian authorities.
Ericsson CEO Carl-Henric Svanberg spoke about this acquisition: “Acquiring Nortel’s North American CDMA business allows us to serve this important region better as we build relationships for the future migration to LTE.”
The company added: “Going forward, research and development costs are expected to be relatively low in CDMA compared with other technologies.”
Acquisitions, canada, Carl-Henric Svanberg, CDMA, Ericsson, long term evolution, lte, Nortel, Nortel Networks, telecom
Somanshu
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