Today we hear that Nokia Siemens Networks is spending $1.2 billion to acquire assets from Motorola, which include most of their wireless network infrastructure. Although it’s reported that Motorola will keep select assets including the iDEN business and related patents.
The expected completion is towards the end of 2010 subject to regulatory approvals, and the acquisition will give Nokia Siemens Networks a global footprint in CDMA, and should strengthen and expand relationships with over 50 operators.
CEO of Nokia Siemens Networks, Rajeev Suri, said that the acquisition would benefit shareholders, employees, and customers in his opinion. He went on to say that “employees will join an industry leader” and the deal will “enhance profitability and cash-flow”.
You can read the full press release on nokiasiemensnetworks.com. If you would like to listen to the conference call between Motorola and Nokia Siemens Networks, visit this link for the Webcast and live call that took place this morning.
*Identifying Monetised Links - outgoing links that we monetise are marked with an '*' symbol.