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July 31, 2010 / Raffy Pekson II

Ericsson Buys Nortel’s Wireless Unit for $1.13 Billion

Photo from ericsson.com

Telecom giant Ericsson became even bigger when it entered into a purchase agreement with Nortel to acquire parts of the Carrier Networks division in relation to CDMA and LTE technology in North America. Ericsson beat Nokia and others in the bid. The deal does include some intellectual property rights, but excludes a small number of 4G wireless patents. The company, which currently manages Sprint’s wireles networks, will be getting important CDMA contracts from Verizon, Sprint, U.S. Cellular, Bell Canada and Leap.

Much of Ericsson’s North American business cam from the sale of GSM and WCDMA equipment and services. With this acquisition, it would become a key supplier in the region’s evolution to 4G LTE.

Read more at GigaOM

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