Comic Book Guy Posted July 27, 2009 Share Posted July 27, 2009 The Swedish telecommunications equipment manufacturer was the highest bidder and was willing to pay nearly double what Nokia Siemens Networks originally offered.LM Ericsson of Sweden, which is working on Long Term Evolution (LTE) products in Montreal, has agreed to buy the carrier wireless assets of Nortel Networks Corp. for US$1.1 billion. Ericsson was the highest bidder in an auction that wrapped up early Saturday. Toronto-based Nortel, which has been operating under bankruptcy protection since Jan. 14, has been trying to sell most of its assets for months. The assets Ericsson will gain are the code division multiple access (CDMA) products, plus the contracts to sell those products to North American carriers. It will also inherit Nortel?s LTE technologies. It was not immediately clear which employees, facilities or products would be redundant. Full article Link to comment Share on other sites More sharing options...
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