Ericsson buys Nortel's GSM assets

Ericsson has acquired the North American GSM assets of bankrupt Nortel for $70m, this follows their successful purchase of the North American CDMA and LTE assets (for $1.13bn).

The GSM equipment is used by AT&T Mobility and T-Mobile USA. Ericsson also get 350 ex Nortel employees. The GSM operation made about $400m for Nortel last year, so the buy seems quite a steal.

The European and Taiwan assets were bought by Austrian firm Kapsch CarrierCom for $33m.