The German-Finnish NSN (Nokia Siemens Networks) has acquired the wireless division of the insolvent competitor Nortel Networks. The purchase price amounts) said 650 million U.S. dollars (466 million euros.
With this acquisition, NSN will expand its position in LTE (Long Term Evolution) and CDMA. CDMA is used by Verizon Wireless and Sprint in the U.S. mobile phone standard. In Germany, this is still being used by any manufacturer.
"This agreement represents an important strategic opportunity for Nokia Siemens Networks to strengthen its position in two key areas, North America and LTE, at a price that is economically viable," said Simon Beresford-Wylie, CEO of NSN.
The acquisition provides (initially) about 2500 jobs, especially in the U.S. and Canada, but also in Mexico and China.
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Wait until the next time when there is staff reductions, and how many of the 2,500 ex Nortel then people will be on: (
Now, again correctly, the deal makes sense: The acquisition of Nortel's LTE Technology NSN is back in the running for some providers!
There were even a few deals gone to other providers and the NSN is now trying to get back:)
To be accepted for the Nortel products must all not even the worst: It's a second chance! After all, Nortel has indeed fallen by some providers in ungade and some were even kicked out.