Nokia Siemens has closed the acquisition of the wireless network infrastructure assets of Motorola Solutions today. The company reports that it paid $975 million in cash for the assets and approximately 6900 employees will transfer to Nokia Siemens Network from Motorola. The finalization of the deal come after China regulators approved the acquisition a last week. The full release is paste below.
As of April 30 2011, the company says that responsibility for supporting customers of Motorola Solutions’ GSM, CDMA, WCDMA, WiMAX and LTE products and services transfers to Nokia Siemens Networks. Part of the approval is due to the fact that Motorola reached an agreement with Chinese manufacturer Huawei over a pending patent lawsuit relating to the assets being acquired. In January, Huawei filed a lawsuit to prevent Motorola from giving Nokia Siemens Huawei’s IP information.
The litigation was recently settled for an undisclosed financial amount.
It’s been nearly a year since Nokia announced the acquisition of Motorola’s wireless assets. Back then, Nokia was planning to pay $1.2 billion for the network and the deal was predicted to close by year end.
Nokia says that based on revenue, the acquisition 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. And as part of the deal, Nokia Siemens Networks is acquiring a number of research and development facilities including sites in the United States, China, Russia, India and the UK.
Nokia Siemens Networks completes acquisition of certain wireless network infrastructure assets of Motorola Solutions
Pays US $975 million in cash
Approximately 6900 employees will transfer to Nokia Siemens Networks
Takes on responsibility for 50 operator customers in 52 countries
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.
NOKIA is a Finnish multinational communications corporation. It is primarily engaged in the manufacturing of mobile devices and in converging Internet and communications industries. They make a wide range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Nokia is the owner of Symbian operation system and partially owns MeeGo operating system.