Nokia Siemens Network is buying the wireless unit of bankrupt Nortel Networks in a USD650m deal aimed at strengthening the company’s position in the US.
The acquisition will see Nokia Siemens purchase the Long Term Evolution (LTE) and code division multiple access (CDMA) assets of Nortel, which is now operating under insolvency protection. CDMA is a rival to the dominant global system for mobile (GSM), while LTE is a next-generation wireless network technology.
The deal is subject to the approval of US and Canadian courts, but Nokia Siemens says it expects the consent by July.
StrategyEye's related categories: PSTN - General
StrategyEye's related companies: Nortel Networks Corp., Nokia Siemens Networks
