U.S. and Canadian courts have approved Swedish wireless company LM Ericsson's $1.13 billion bid to buy next-generation wireless technology and other assets from insolvent telecom-equipment maker Nortel Networks Corp. In his ruling Tuesday, U.S. Bankruptcy Court Judge Kevin Gross in Wilmington, Del., said he was satisfied that the assets were being sold at a fair price and that both Nortel and its creditors will benefit. The Ontario Superior Court of Justice in Toronto also approved the deal, according to reports.