Ericsson cast the $1.13 billion winning bid in an auction for the wireless assets of bankrupt Nortel Networks, the companies said Saturday.
The Swedish telecommunications giant picked up Nortel's CDMA and next-generation LTE wireless technologies. As part of the agreement, at least 2,500 Nortel workers supporting CDMA and LTE will be offered jobs at Ericsson.
CDMA, or code division multiple access, is one of two major networks operating in the U.S. and is used by Verizon Wireless and Sprint Nextel. LTE, or Long Term Evolution, is 4G wireless technology that will potentially replace today's mobile networks.
More: http://news.cnet.com/8301-1035_3-10295760-94.html
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The Swedish telecommunications giant picked up Nortel's CDMA and next-generation LTE wireless technologies. As part of the agreement, at least 2,500 Nortel workers supporting CDMA and LTE will be offered jobs at Ericsson.
CDMA, or code division multiple access, is one of two major networks operating in the U.S. and is used by Verizon Wireless and Sprint Nextel. LTE, or Long Term Evolution, is 4G wireless technology that will potentially replace today's mobile networks.
More: http://news.cnet.com/8301-1035_3-10295760-94.html
