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The auction for Nortel’s Wireless assets, which comes with a lot of intellectual property in the CDMA and LTE space, was won by Ericsson to the tune of $1.13 billion yesterday. Nokia Siemens Networks, who bid $650 million, lost. RIM was blocked from buying the assets out right, and could not participate in the auction because they refused to accept Nortel’s terms. Ericsson has promised that a minimum of 2,500 employees will be able to keep their jobs, they just have to change their business cards to reflect their new company letterhead. Canada and the USA still have to approve the purchase, but no problems are likely to be faced when the decision, scheduled occur on July 28th, is brought to court. There will be an analyst call on Monday to discuss further details, which you can listen to here.
About The Author
Stefan Constantinescu
Stefan Constantinescu (@WhatTheBit on Twitter) has loved technology since as far back as he can remember. It started with computers, but in the past few years his passion has turned to mobile devices. As a mobile phone enthusiast who lives and breathes devices that connect to the internet, he knows he is not alone with this radical fascination of all things wireless. He is strongly opinionated and enjoys a good debate so leave comments in his posts and he’ll get back to you! Stefan began blogging as a hobby in the fall of 2006 and joined IntoMobile in the summer of 2007. Later he got a job at Nokia in March 2008, but as of June 2009 he has rejoined the IntoMobile team. He is currently based out of Helsinki, Finland.
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Roland Tanglao
