NewNet completes Wimax acquisition from NSN

Network services provider NewNet Communication Technologies, a Skyview Capital portfolio company, has completed the initial closing of the acquisition of the former Motorola Solutions' Wimax business from Nokia Siemens Networks. NewNet has assumed the responsibility for the research and development of the Wimax product portfolio and the support and services responsibility for the Wimax business customers. Approximately 175 employees across the globe are transferring to NewNet in this initial closing. NewNet will be adding research and development facilities in the UK and expanding its R&D teams in the US and India. NewNet will also add service and support capacities in Pakistan, Bahrain and the UAE. Hong Kong and the countries of China, Malaysia and Taiwan are projected to close in March. This closing will result in the transfer of approximately 125 additional employees to NewNet across R&D, sales, service and support functions. The acquisition also expands NewNet's customer footprint across the globe, with service and support responsibilities for 43 customers across 27 countries and provides access to emerging market regions. NewNet will be showcasing and demonstrating its Wimax product portfolio at the upcoming Mobile World Congress.