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: News Corp. invests in India real estate website

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

BlackBerry courts iPhone users with cash

1 hour ago

Canadian smartphone maker BlackBerry is wooing Apple customers with a cash offer for trade-ins of iPhones for its new square-screened, keyboard-equipped Passport.

HP earnings show continued struggle

2 hours ago

Venerable tech giant Hewlett-Packard has been struggling for three years to turn its business around. Its latest earnings show it still has more work ahead.

Apple market value hits $700 bn

8 hours ago

A rise in Apple shares Tuesday pushed the market value of the trend-setting US tech icon above $700 billion, becoming the first company to hit that milestone.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.