Ericsson to acquire Nortel's North America Wireless Business

Ericsson has entered into an asset purchase agreement to acquire the parts of carrier networks division of Nortel relating to CDMA and LTE technology in North America. Ericsson acquires and installation base and business that provides major operators CDMA technology and support services. The agreement also includes inportant CDMA contracts with North American operator such as Verizon, Sprint, Bell Canada and Leap as well as LTE assets, certain patents and patent licenses relating to CDMA and LTE. The agreement with Ericsson provides a strong and stable future for Nortel's CDMA and LTE business. Many employees will also have the opportunity to continue their work with Ericsson, bringing their innovation power and creativity to the wireless industry for years to come,” says Richard Lowe, President of Carrier Networks at Nortel.