Nokia Siemens sells Wimax business to NewNet

Nieuws Mobiel Wereld 30 NOV 2011
Nokia Siemens sells Wimax business to NewNet
Network services provider NewNet Communication Technologies, a Skyview Capital portfolio company, plans to acquire the former Motorola Solutions' Wimax business from Nokia Siemens Networks. Under the agreement, NewNet will acquire the complete Wimax product portfolio, the related employees and assets, as well as active customer and supplier contracts. Approximately 300 Nokia Siemens Networks employees will transfer to NewNet. Many of these employees are based in suburban Chicago and Hangzhou. Nokia Siemens Networks and NewNet believe this acquisition will provide transferring employees with professional growth opportunities in a technologically advanced company that has an on-going focus within their core areas of expertise. The companies expect to close the deal before 31 December. Specific terms of the transaction were not disclosed.

Categories:

Draadloos

Companies:

Nokia Siemens Networks,  NewNet,  Motorola Solutions

Regions:

Wereld

Tags:

Staff, Bearer technology, Company, Network equipment, Wholesale, Client, Wimax, M&A buyouts & divestments

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