Ericsson Wins Nortel Wireless Assets For $1.1B

Law360, New York (July 27, 2009, 2:15 PM EDT) -- Telefonaktiebolaget LM Ericsson has made a winning bid of $1.13 billion to purchase the wireless infrastructure business and broadband technology assets of bankrupt telecommunications company Nortel Networks Corp.

Nortel announced Saturday that it and its subsidiaries had concluded the auction for its infrastructure for code division multiple access, a cell phone standard, as well as its next-generation wireless broadband technology LTE Access assets.

Nortel's wireless business is the world’s second-largest supplier of CDMA. At least 2,500 employees supporting the CDMA and LTE Access businesses will receive...
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