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Monday, July 19, 2010

Motorola selling wireless network infrastructure assets to Nokia Siemens Networks

Nokia Siemens Networks and Motorola have entered into an agreement that should see Nokia Siemens Networks acquiring the majority of Motorola's wireless network infrastructure assets for $1.2 billion later this year. The deal doesn't include Motorola's iDEN 'push-to-talk' business, the majority of its wireless network infrastructure patents and certain other assets.

This agreement will enable Nokia Siemens Networks to become the third-largest wireless infrastructure vendor in the United States and the largest foreign wireless vendor in Japan. It'll also strengthen its position as the second-largest player in the global infrastructure segment.

Rajeev Suri, Chief Executive Officer of Nokia Siemens Networks, said "This is an exciting acquisition that I believe has significant benefits for customers, employees and our shareholders. Motorola's current customers will continue to get world-class support for their installed base and a clear path for transitioning to next generation technologies while employees will join an industry leader with global scale and reach.  Nokia Siemens Networks will see the benefits of a deal that is expected to enhance profitability and cash-flow and to have significant upside potential."

Approximately 7,500 employees are expected to transfer to Nokia Siemens Networks from Motorola's wireless network infrastructure business when the transaction is completed.

Author: The Fonecast
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