Hitachi buys Nortel's LTE packet core assets
Hitachi will purchase parts of Nortel's LTE packet core network business for €6.72 million.
The assets include software to support the transfer of data over wireless networks, as well as equipment, non-patent IP and other tangible assets, Nortel said. But it excludes legacy packet core components for Nortel's GSM and UMTS businesses.
The deal requires the approval of both US and Canadian bankruptcy courts, but is expected to close some time in 2009.
The sale had been conducted as an auction, but unlike Nortel's most recent asset sales, did not begin with a stalking horse bid.
Hitachi last month opened an LTE center in the US city of Dallas, which the company said would focus on the packet core.