Nortel Sells GSM
Josh Pringle
Wednesday, November 25, 2009
Nortel Networks has sold off another piece of its company.
The Global System Mobile unit has been sold to Telefonaktiebolaget LM Ericsson and Kapsch CarrierCom AG in a joint bid for $103 million.
The sale is subject to court approvals in the US and Canada.
About 680 Nortel employees will receive offers of employment from the joint bidders.
The Global GSM/GSM-R business includes patents predominantly used in the GSM business and granting of non-exclusive licences of other relevant patents.
Ottawa & Eastern Ontario News
