|Nokia Siemens Networks completes acquisition of certain wireless network infrastructure assets of Motorola Solutions|
Posted: 29-Apr-2011 [Source: Nokia Siemens Networks]
[Nokia Siemens Networks has completed its acquisition of Motorola Solutions' Networks assets paying US $975 million in cash.]
Espoo, Finland and Schaumburg, IL -- Nokia Siemens Networks and Motorola Solutions, Inc. (NYSE: MSI) today jointly announced that Nokia Siemens Networks has completed its acquisition of Motorola Solutions' Networks assets paying US $975 million in cash. As of April 30 2011, responsibility for supporting customers of Motorola Solutions' GSM, CDMA, WCDMA, WiMAX and LTE products and services transfers to Nokia Siemens Networks.
"The people, customers and technology we've acquired greatly complement our existing business by taking us into new markets and broadening our market share," said Rajeev Suri, Chief Executive Officer, Nokia Siemens Networks. "Our combined knowledge and experience will provide our newly expanded customer base with the means to grow by providing greater value to their subscribers."
"Motorola Solutions is pleased to complete this transaction to combine our Networks team with an industry leader," said Greg Brown, President and Chief Executive Officer, Motorola Solutions. "This is great news for our customers, our investors and our people and will allow Motorola Solutions to further sharpen our strategic focus on providing mission-critical solutions for our government and enterprise customers."
The acquisition strengthens Nokia Siemens Networks' position in key regions, particularly North America and Japan, as well as with some of the world's major service providers. Based on revenue, the addition of Motorola Solutions' Networks assets makes Nokia Siemens Networks the third largest wireless infrastructure vendor in the United States and the leading non-Japanese wireless vendor in Japan. In addition, the acquisition reinforces Nokia Siemens Networks' position as the world's second largest wireless infrastructure and services provider.
As part of the deal, responsibility for supporting 50 operators across 52 countries, as well as approximately 6900 employees, will transfer to Nokia Siemens Networks. In addition, Nokia Siemens Networks is acquiring a number of research and development facilities including sites in the United States, China, Russia, India and the UK.
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