Nortel sells mobile network to Ericsson and Kapsch

Apr 02, 2010
Canada's Nortel Networks announced it has completed the 103 million dollar sale of its GSM-GSMR wireless business to Sweden's Ericsson and Austria's Kapsch.

Canada's Nortel Networks on Thursday announced it has completed the 103 million dollar sale of its GSM-GSMR wireless business to Sweden's Ericsson and Austria's Kapsch.

Announced on November 25, the 103 million dollar sale awaits confirmation by US, Canadian and French courts.

" has purchased assets relating to the North American GSM business and Kapsch has purchased assets relating to the EMEA and Taiwan GSM businesses. Kapsch has also acquired the global assets of the GSM-R business," Nortel said in a statement.

The deal calls for transferring 670 Nortel jobs to its buyers.

Placed under in January 2009, Nortel is currently under divestment proceedings.

Explore further: Amazon's loss makes holidays a question mark

add to favorites email to friend print save as pdf

Related Stories

Courts OK $1.13B sale of Nortel assets to Ericsson

Jul 28, 2009

(AP) -- U.S. and Canadian courts have approved Swedish wireless company LM Ericsson's $1.13 billion bid to buy next-generation wireless technology and other assets from insolvent telecom equipment maker Nortel Networks Corp.

Nortel strikes deal to sell business unit to Avaya

Jul 20, 2009

Canadian telecom equipment maker Nortel said Monday it reached a deal to sell its enterprise solutions business to US-based Avaya for 475 million dollars pending approval of a bankruptcy court.

Ciena bids $521M for Nortel business units

Oct 07, 2009

(AP) -- Ciena Corp. is offering cash and stock worth $521 million to acquire some of Nortel's most-prized remaining business units as the fallen telecommunications company continues to liquidate.

Nortel to sell itself off in pieces

Jun 20, 2009

(AP) -- Nortel Networks, once a technology giant, has decided to sell itself off in pieces rather than attempt to emerge from bankruptcy as a restructured company.

London 2012 replaces sponsor Nortel with Cisco

Jul 10, 2009

(AP) -- London Olympic officials on Friday replaced bankrupt Canadian technology sponsor Nortel Networks with Cisco for the 2012 Games, a move that will cost organizers $19.4 million in revenue.

Recommended for you

Out-of-patience investors sell off Amazon

13 hours ago

Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand ...

States ascend into the cloud

20 hours ago

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

22 hours ago

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

22 hours ago

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

User comments : 0