Ericsson to acquire majority of Nortel’s North American wireless business
Ericsson has today entered into an asset purchase agreement to acquire the parts of the Carrier Networks division of Nortel relating to CDMA and LTE technology in North America. The purchase is structured as an asset sale at a cash purchase price of USD 1.13 b. on a cash and debt free basis. This announcement follows the completion of the auction process initiated by Nortel, and the transaction is subject to court and customary regulatory approvals. Ericsson acquires an installed base and a healthy business that provides major operators CDMA technology and support services. In addition, the acquisition strengthens Ericsson’s ability to serve North America’s leading wireless operators in the evolution to LTE. The acquisition significantly expands Ericsson’s footprint in North America, particularly as this region is emerging as an early adopter of LTE technology. The acquisition also provides Nortel’s customers with a strong and reliable supplier for the future, many of which have expressed support for this acquisition.
Full details here at Ericsson
Filed Under: Ericsson
About the Author: Faysal Chowdhury, a Civil Engineer at day and an intelligent tech blogger at night. Stationed in Dhaka, Bangladesh he is has been with HotCellularPhone.com since the beginning, dated back to 2008. After receiving his Bachelor’s Degree in 2006, he started working as a Civil Engineer for Bangladesh Water Development Board (BWDB) but his tech savvy mind always kept up with the mobile world and keeping everyone updated as well.
