The deal between Nortel and Ericsson approved by the courts

It became known that the transaction on sale of assets of the CDMA / LTE company Nortel has been approved by regulatory authorities Ships USA and Canada. Thus, the agreement between Ericsson and Nortel, totaling 1.13 billion U.S. dollars entering into legal force.

As announced a few days ago, a proposal by the company Ericsson has won an auction for the sale of CDMA / LTE. The agreement provides for the sale of CDMA business of Nortel, which is the second in the world in total sales volume of CDMA. The company also Ericsson acquires some assets of the development of systems for access LTE - one of the world leaders to create solutions for next generation wireless networks. Under the terms of the 2500 staff of Nortel, for the work of these units will be able to continue working at Ericsson. Companies Nortel and Ericsson are planning to complete all the formalities regarding this transaction before the end of the year.