Acquisition of substantially all the assets of Nortel's GSM business completed
(Thomson Reuters ONE) -
* 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
5/www.ericsson.com/ericsson/press/releases/20090725-1330882.shtml>
www.ericsson.com/ericsson/press/releases/20091113-1354893.shtml
5/www.ericsson.com/ericsson/press/releases/20091113-1354893.shtml>
www.youtube.com/ericssonpress#p/u/7/D3yDHV9O_5o
5/www.youtube.com/ericssonpress>
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
www.twitter.com/ericssonpress
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www.youtube.com/ericssonpress
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail:media.relations(at)ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail:investor.relations(at)ericsson.com
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.
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
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Datum: 31.03.2010 - 18:57 Uhr
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