Monday, 21 July 2008 
Nortel Completes Sale of UMTS Access Business to Alcatel-Lucent PDF Print E-mail
Tuesday, 02 January 2007

Nortel announced that the company has closed the sale of assets and liabilities related to its UMTS access business to Alcatel-Lucent. The sale closed on December 31st, 2006. As previously announced, the transaction is for US$320 million in cash less significant deductions and transaction related costs.

The closing of the sale follows the signing of the definitive agreement on December 4 and the signing of the non-binding Memorandum of Understanding between the companies on September 1, 2006. As part of the agreement, approximately 1,700 of Nortel's UMTS access employees have transferred to Alcatel-Lucent. Regulatory approvals have been met. With the completion of this sale, Alcatel-Lucent acquired the UMTS access product portfolio, associated patents and tangible assets as well as customer contracts from Nortel.

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