Alcatel-Lucent closed the $320 million deal for Nortel's UMTS assets, which includes about 1,700 of Nortel's UMTS employees. The deal closed on December 31, following regulatory approvals. The new assets position Alcatel-Lucent as a market leader for building out 3G and 4G networks. The deal closely follows the final approval of a $2.25 billion global settlement between Nortel and its shareholders to settle a couple of lawsuits surrounding financial results between 2001 and 2005.
For more on the Alcatel-Lucent UMTS deal:
- check out this article from RCR News