Nortel Networks has concluded a successful auction of substantially all of its CDMA Business and LTE Access assets. Telefonaktiebolaget LM Ericsson  emerged as the winning bidder with a purchase price of U.S. $1.13 billion. The sale was approved July 28 by the Ontario Superior Court of Justice and the United States Bankruptcy Court for the District of Delaware.

Previously, Nokia Siemens had announced it was purchasing Nortel’s CDMA and LTE assets for $650 million. (For more, click here). But Ericsson outbid its rival.

As part of the Nortel Ericsson agreement, a minimum of 2,500 Nortel employees supporting the CDMA and LTE Access business will receive offers of employment from Ericsson. Completion of the sale is subject to regulatory and other customary closing conditions.

The Daily

Subscribe
Thursday–June 17

Editor’s Note

Your next issue of Cablefax Daily will arrive Monday in observance of the Juneteenth celebration. We hope you’ll join us in taking time to learn and grow this holiday weekend.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Calendar

Jul 16
Diversity List – 2021 Nominations Due: July 16, 2021
Sep 10
Most Powerful Women – 2021 Nominations Due: Sept 10, 2021
Dec 7
Most Powerful Women CelebrationSave the Date!
Full Calendar

Jobs

Seeking an INDUSTRY JOB?
VIEW JOBS

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact John@cynopsis.com for more information.