| Nokia Siemens to Purchase Certain Assets of Nortel |
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| Written by Chelsey Drysdale | |||
| Monday, 22 June 2009 16:43 | |||
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ESPOO, FINLAND – Nokia Siemens Networks has agreed to acquire certain assets from Nortel. The $650 million acquisition in the field of mobile radio access adds resources to the firm’s LTE. The acquisition of Nortel's CDMA business would reportedly make Nokia Siemens Networks a leading supplier of wireless infrastructure products in North America. The transaction would see more than 2,500 Nortel employees transferred to Nokia Siemens Networks. Approximately 400 of those employees are focused on LTE R & D. Closing of the transaction, expected to occur in the third quarter, remains subject to customary closing conditions, including receipt of necessary regulatory approvals.
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