Ericsson has completed the acquisition of Nortel's North American GSM business. The recent closing follows the...
April 7, 2010
Ericsson has completed the acquisition of Nortel’s North American GSM business. The recent closing follows the announcement on November 25, 2009, that Ericsson had entered into an asset purchase agreement for these assets.
“The addition of Nortel’s skilled GSM experts adds additional depth to Ericsson’s newest business unit,” said Rima Qureshi, head of Ericsson’s CDMA unit.
More than 350 employees from Nortel will be integrated in the Ericsson group over the coming months.
The acquired operations are expected to be accretive to Ericsson’s earnings within a year after closing.
Ericsson’s bid for Nortel’s GSM assets was made together with Kapsch CarrierCom AG of Austria. Under the two transactions Ericsson is acquiring certain assets of Nortel’s GSM business in North America and Kapsch is acquiring certain assets outside North America.
In 2009, Ericsson also acquired Nortel’s CDMA and LTE assets in North America.