Ericsson Completes Acquisition of Nortel's CDMA, LTE Business

Ericsson completed its acquisition of substantially all of Nortel's CDMA business and LTE assets in North America.


Under the deal, which was first announced on July 25, 2009, Ericsson paid US$1.13 billion. The acquisition includes the transfer of important CDMA contracts with North American operators including Verizon, Sprint, U.S. Cellular, Bell Canada, Telus and Leap, as well as LTE assets, certain patents and patent licenses relating to CDMA and LTE.


Approximately 2,500 Nortel employees in North America and China are now part of Ericsson. Combined with the transition of employees in the recent Sprint deal, Ericsson now has some 14,000 employees in North America, making it the company's second largest market based on number of employees.
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