Ericsson wins over Nortel

July 25, 2009 2:57:57 PM PDT
Ericsson won the auction for the wireless assets of the bankrupt company Nortel this week.The deal was worth more than $ 1 billion.

It's not yet clear what the sale means for Nortel's RTP workers.

But Ericsson said it plans to keep at least 2,500 jobs in wireless operations, which is about 80 percent of current staffing levels.

The deal is still subject to regulatory approvals.