Some 1,000 former GDNT
employees, including approximately 550 R&D engineers, will be integrated in to the Ericsson group over the coming months and will work under the Ericsson brand effective from Thursday.
, a joint venture between Canadian bankrupt sector player Nortel Networks and local corporations and telecom operators, acts as Ericcson's supplier following the buys of the CDMA and GSM businesses of Nortel.
Country: , ChinaSector: Telecommunications, Business and Consumer ServicesTarget: GDNT
R&D, manufacturing and services operations in ChinaBuyer: Telefonaktiebolaget LM EricssonVendor: Guangdong Nortel Telecommunication Equipment Company LtdDeal size in USD: 50mType: Corporate acquisitionStatus: ClosedBuyer advisor: SEB Enskilda
M2 EQUITYBITES-December 1, 2010--Ericsson to pay USD50m for Chinese GDNT
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operations, part of the deal, count some 1,100 employees, including 550 R&D engineers, who will all join Ericsson after the deal.
ERICSSON TO BUY PART OF CHINESE R&D FIRM GDNT