Ericsson has acquired Guangdong Nortel Telecommunication Equipment Company for USD50 Million.
As the joint venture of the global communication giant Nortel in China, Guangdong Nortel was founded in 1995. It is dedicated to introducing high-end technology and actively promoting localization of research, development, production and services with its telecommunication technology, reliable product quality, and specialist client services.
This acquisition will reportedly include Guangdong Nortel's research and development facilities, manufacturing facilities, and its network support and customer service unit in China. Over the next few months, Guangdong Nortel's 1,100 employees, including about 550 research and development engineers, will be merged into the Ericsson Group.
Prior to this, Ericsson acquired Nortel's CDMA and GSM businesses.