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December 2, 2010

Ericsson acquires assets of GDNT

R&D facilities, manufacturing facilities, support and customer service in China

By CBR Staff Writer

Ericsson has entered into an agreement to acquire certain assets of the Guangdong Nortel Telecommunication Equipment (GDNT) for $50m on a cash and debt free basis.

GDNT is a research, development and manufacturing company based in China and a supplier to Ericsson following the acquisitions of the CDMA and GSM businesses of Nortel.

The purchase agreement includes R&D facilities, manufacturing facilities, support and customer service in China.

Ericsson said that approximately 1,100 employees, including 550 R&D engineers will be integrated in to the Ericsson group over the coming months.

Ericsson CDMA mobile systems unit head Rima Qureshi said they have built a strong foundation with the CDMA & GSM teams acquired from Nortel and with these new assets, they take control of their business by acquiring capabilities for the continued development of the CDMA & GSM businesses.

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