Ericsson will acquire certain assets of the Guangdong Nortel Telecommunication Equipment Company Ltd (GDNT) for US$50 million. GDNT is a leading research, development and manufacturing company based in China and an important supplier to Ericsson following the acquisitions of the CDMA and GSM businesses of Nortel.
GDNT was founded in 1995 as a joint venture between Nortel, a Canadian Telecommunications Company and local Chinese corporations and telecom operators. The transaction also includes R&D facilities, manufacturing facilities as well as support and customer service in China. Some 1,100 employees, including approximately 550 R&D engineers will be integrated in to the Ericsson group over the coming months.
http://www.ericsson.com
