Nokia Networks - formerly known as NSN - has agreed to acquire Panasonic’s 3G and LTE base station system business. The deal is expected to be finalised next month.
Fixed assets and business contracts with Panasonic’s customers are being transferred to Nokia Networks in Japan, as are Panasonic employees involved in the business.
Ashish Chowdhary, Executive Vice President for Nokia Networks in AMEA, said “Japan is a key market for us, and this agreement is a major milestone in forging closer ties in Japan. The acquisition of part of Panasonic’s wireless network business would further strengthen our mobile broadband portfolio and add significant value for Japanese operators.”