It was announced late last week that Ericsson has emerged as the winning bidder for Nortel’s Multi Service Switch (MSS) business, paying a purchase price of US$65 million. Nortel noted in their release that substantially all of the business unit’s employees will have the opportunity to continue their employment with Ericsson.
John Luszczek, General Manager of Nortel’s MSS business, commented on the announcement:
“Today’s announcement is welcome news for so many stakeholders – our customers, partners, suppliers and employees. It is yet another proof-point of Nortel’s ongoing commitment to preserve innovation and customer relationships that we have nurtured and grown over the past two decades. Our focus now is to work closely with Ericsson to ensure as seamless a transition as possible for our customers. At the same time, we will continue to deliver the superior service that our customers have come to expect from Nortel.”
Nortel did not commit to a close-date for the deal, but did say that it will work to close the sale expeditiously.