TMCnet News
NewNet Communication acquires Motorola Solutions' WiMAX business from Nokia SiemensFeb 09, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- NewNet Communication Technologies, LLC, a US-based provider of text messaging and network signaling solutions, has acquired the former Motorola Solutions' WiMAX business from Nokia Siemens Networks Oy, a Finland-based communications services company. Announcement (November 29, 2011): NewNet Communication Technologies is planning to acquire the former Motorola Solutions' WiMAX business from Nokia Siemens Networks. Under the terms of the transaction, NewNet will acquire the complete WiMAX product portfolio, the related employees and assets, as well as active customer and supplier contracts. As a part of the transaction, Nokia Siemens Networks will transfer approximately 300 employees from Chicago, USA and Hangzhou, China to NewNet. Barclays Capital, Inc. is acting as financial advisor to Nokia Siemens Networks. Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2012-02-09 Deal Participants Target (Company) Motorola Solutions, Inc. - WiMAX Business Acquirer (Company) NewNet Communication Technologies, LLC Vendor (Company) Nokia Siemens Networks Oy Deal Rationale The acquisition will allow NewNet to increase the breadth of its product portfolio, R&D capabilities, customer relationships and wireless infrastructure solutions on a global basis. |