Swedish network equipment maker, Ericsson, is acquiring Nortel Networks’ GSM business in the U.S. and Canada, The Wall Street Journal reports. Under the deal, the company will pay $70 million on a cash and debt free basis.

Austrian company, Kapsch CarrierCom, is paying $33 million for Toronto-based Nortel’s remaining GSM assets outside North America. Ericsson has also purchased Nortel's CDMA and LTE assets in North America for $1.13 billion.

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