Espoo, Finland – Nokia (NYSE: NOK) Siemens Networks announced on Monday
that it will acquire the majority of Motorola’s (NYSE: MOT) wireless network infrastructure
assets for $1.2 billion.
About 7,500 Motorola employees are expected to
transfer to Nokia Siemens Networks when the transaction closes — expected by
the end of 2010.
Nokia Siemens Networks said the deal will give it
relationships with more than 50 wireless network operators, and strengthen its
position with China Mobile, Sprint, Verizon Wireless, Vodafone and others.
The
company added that the deal will make it the third-largest infrastructure
vendor in the U.S.; the top foreign wireless vendor in Japan; and strengthen
its No. 2 position in the global infrastructure segment.
Related Links:
http://tinyurl.com/2cslt33
