Acquisition of Substantially All the Assets of Nortel's GSM Business Completed
01 Aprile 2010 - 1:10AM
Marketwired
* Emphasizes commitment to North American market
* Accretive to Ericsson's earnings within a year
Ericsson (NASDAQ: ERIC) has completed the acquisition of
Nortel's North American GSM business. Today's closing follows the
announcement on November 25, 2009, that Ericsson had entered into
an asset purchase agreement for these assets.
"The addition of Nortel's skilled GSM experts adds additional
depth to Ericsson's newest business unit," said Rima Qureshi, head
of Ericsson's CDMA unit. "The CDMA team acquired from Nortel late
last year has built a strong foundation already, and this new
acquisition places us in a great position to support our growing
list of North American and International customers."
"The completion of this acquisition strengthens our position as
a leading provider of telecommunications technology and services in
the United States and Canada and shows our commitment to the
market," said Angel Ruiz, Head of Ericsson North America. "The
skill and experience the Nortel employees bring to Ericsson will
help us continue to provide exceptional services to our
customers."
The acquisition includes the transfer of important GSM business
with North American operators and further strengthens Ericsson's
ability to serve North America's leading wireless operators. More
than 350 employees from Nortel will be integrated in the Ericsson
group over the coming months.
The acquired operations are expected to be accretive to
Ericsson's earnings within a year after closing.
Ericsson's bid for Nortel's GSM assets was made together with
Kapsch CarrierCom AG of Austria. Under the two transactions
Ericsson is acquiring certain assets of Nortel's GSM business in
North America and Kapsch is acquiring certain assets outside North
America.
In 2009, Ericsson also acquired Nortel's CDMA and LTE assets in
North America.
Notes to editors:
Photos of Rima Qureshi and Angel Ruiz:
www.ericsson.com/ericsson/press/photos/management.shtml
Previously announced information on Ericsson's acquisitions of
Nortel assets:
www.ericsson.com/thecompany/press/releases/2009/11/1357032
www.ericsson.com/ericsson/press/releases/20090725-1330882.shtml
www.ericsson.com/ericsson/press/releases/20091113-1354893.shtml
www.youtube.com/ericssonpress#p/u/7/D3yDHV9O_5o
Ourmultimedia content is available at the broadcast room:
www.ericsson.com/broadcast_room
Ericsson is the world's leading provider of technology and
services to telecom operators. Ericsson is the leader in 2G, 3G and
4G mobile technologies, and provides support for networks with over
2 billion subscribers and has the leading position in managed
services. The company's portfolio comprises mobile and fixed
network infrastructure, telecom services, software, broadband and
multimedia solutions for operators, enterprises and the media
industry. The Sony Ericsson and ST-Ericsson joint ventures provide
consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of being the "prime driver in
an all-communicating world" through innovation, technology, and
sustainable business solutions. Working in 175 countries, more than
80,000 employees generated revenue of SEK 206.5 billion (USD 27.1
billion) in 2009. Founded in 1876 with the headquarters in
Stockholm, Sweden, Ericsson is listed on OMX NASDAQ, Stockholm and
NASDAQ New York.
www.ericsson.com
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UPCOMING EVENTS
Ericsson's Capital Markets Day, Stockholm, Sweden, May 5-6
Ericsson Business Innovation Forum, Shanghai, China, May
17-18
For more information please contact the Ericsson Media Relations
Team.
http://www.ericsson.com/ericsson/press/contacts/press.shtml
Ericsson discloses the information provided herein pursuant to
the Securities Markets Act and/or the Financial Instruments Trading
Act. The information was submitted for publication on April 1 at
12:55 am CEST.
[HUG#1400094]
Press release (PDF):
http://hugin.info/1061/R/1400094/355492.pdf
FOR FURTHER INFORMATION, PLEASE CONTACT Ericsson Corporate
Public & Media Relations Phone: +46 10 719 69 92 E-mail: Email
Contact Ericsson Investor Relations Phone: +46 10 719 00 00 E-mail:
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