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Alcatel buys Nortel assets for $320M

PARIS, Dec. 4 (UPI) -- Alcatel-Lucent will spend $320 million to buy wireless technology assets of Canada's Nortel Networks Corp.

Buying Nortel's UMTS radio access business and related assets will help the French company advance its move into 4G, or fourth generation, mobile broadband technology, Alcatel-Lucent said Monday in a statement.

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Upon closing of the all-cash deal, Alcatel-Lucent will serve an additional 16 global UMTS customers. About 1,700 people will join Alcatel-Lucent, of which about 1,100 are research and development engineers, mostly in France, Canada and China.

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