SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

NewNet Completes Initial Acquisition Closing of Nokia Siemens Networks' WiMAX Business
[February 08, 2012]

NewNet Completes Initial Acquisition Closing of Nokia Siemens Networks' WiMAX Business


SHELTON, Conn. --(Business Wire)--

NewNet (News - Alert) Communication Technologies LLC, a wholly owned portfolio company of Los Angeles based private investment firm Skyview Capital LLC, announced today that it has completed the initial closing of the acquisition of the former Motorola Solutions' WiMAX (News - Alert) business from Nokia Siemens Networks. As of February 4th 2012, NewNet will be assuming the responsibility for the research and development of the WiMAX product portfolio and the support and services responsibility for a majority of the WiMAX business customers.

Approximately 175 employees across the globe are transferring to NewNet in this initial closing. NewNet will be adding research and development facilities in the UK and expanding its R&D teams in the US and India. NewNet will also add significant service and support capabilities in Pakistan, Bahrain and the UAE. Hong Kong and the countries of China, Malaysia and Taiwan are projected to close in March. This later closing will result in the transfer of approximately 125 additional employees to NewNet across R&D, sales, service and support functions.

"We have worked in close co-operation with the Nokia (News - Alert) Siemens Networks team to allow us to integrate the WiMAX technology and product offering quickly and efficiently into NewNet so that we can turn our attention to providing world class service and support to our WiMAX customers," said Ron Pyles, CEO and President of NewNet. "We are tremendously excited to invest NewNet resources to continue to enhance the WiMAX technology to a new level. We see many opportunities to grow this business. Key areas of market opportunity include mobile broadband, Smart Grid and public safety solutions."

"We are elated to have completed the initial closing on this strategic acquisition, as it represents yet another significant milestone in our razor sharp focus on buildin a global market leader, within the telecommunications industry through NewNet Communication Technologies," said Alex Soltani, Chairman and CEO of Skyview Capital. "The acquisition brings a blue-chip international customer base and a leading edge 4G-WiMAX technology providing an exceptional platform for further growth, both organically and through additional acquisitions. As always Skyview remains fully committed to supporting Ron and our NewNet team, and welcomes aboard the talented professionals joining us as a result of this transaction."



The acquisition establishes NewNet as the leading provider of end to end WiMAX products and services in the marketplace. The acquisition also expands NewNet's customer footprint across the globe, with service and support responsibilities for 43 customers across 27 countries, and provides access to major emerging market regions that are anticipated to experience substantial subscriber growth and mobile broadband usage.

NewNet will be showcasing and demonstrating its WiMAX product portfolio at the upcoming Mobile World Congress (News - Alert), to be held in Barcelona from February 27 to March 1, in Hall 8 Booth 8A169.


About NewNet Communication Technologies, LLC

NewNet Communication Technologies, LLC is a leading provider of innovative solutions for next generation mobile and fixed line networks. NewNet enables global telecom operators and equipment manufacturers to rapidly develop and deploy cutting edge, revenue-generating applications that deliver feature-rich, value added services. Recognized as a trusted leader in the carrier applications market for over 20 years, NewNet has been synonymous with telecom product excellence and development expertise. The company is committed to providing unparalleled service to its customers. With installations in major carrier networks in over 70 countries, NewNet's product offerings include: The WiMAX end to end wireless broadband product portfolio; TraxcomSecure® electronic transaction processing solutions, which deliver services such as mobile payments, e-banking, and e-commerce; Mercury, the industry's most complete purpose-built, mobile multimedia content delivery platform; and the Total Control PDSN platform, which provides economic delivery of premium mobile data services in CDMA networks. Other products include Distributed7, the world's first standards-based signaling platform, and a short message service center (SMSC), which has been deployed in more than 200 wireless networks worldwide. The company is headquartered in the USA, with sales and support teams located around the world. For more information, visit www.newnet.com

About Skyview Capital, LLC

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and management of "systems critical" businesses in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial strength, Skyview systematically enhances the long-term value of the companies it acquires.

For more information, visit www.skyviewcapital.com.


[ Back To TMCnet.com's Homepage ]









Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2020 Technology Marketing Corporation. All rights reserved | Privacy Policy