Ericsson Acquires Guangdong Nortel

Ericsson PR, 12/01/10

Ericsson today signed an agreement to acquire certain assets of Guangdong Nortel Telecommunication Equipment Company (GDNT) for USD 50 mln on a cash and debt-free basis.

GDNT is a leading research, development and manufacturing company based in China and an important supplier to Ericsson following the acquisitions of the CDMA and GSM businesses of Nortel. GDNT was founded in 1995 as a joint venture between Canadian telecom equipment vendor Nortel and local Chinese corporations and telecom operators. The transaction also includes R&D facilities, manufacturing facilities and support and customer service in China. Some 1,100 employees, including approximately 550 R&D engineers will be integrated in to the Ericsson group over the coming months.

Keywords: Guangdong Nortel Telecommunication Equipment wireless production facility Nortel Ericsson CDMA GSM R&D customer service HR JV M&A

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