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Monday, June 22, 2009

Nokia Siemens Networks signs agreement with Nortel to purchase LTE and CDMA assets

Source: Nokia Siemens Networks press release
Nokia Siemens Networks has taken a significant step towards strengthening its leadership in Long Term Evolution, or LTE, next generation wireless technology and expanding its market presence in North America with an agreement to acquire key assets from Nortel.

The planned USD 650 million acquisition, which will bring together the highly complementary assets of the two companies in the field of mobile radio access, adds further key talent and resources to enhance Nokia Siemens Networks' existing strength and momentum in LTE. The acquisition of Nortel's profitable CDMA business would significantly improve Nokia Siemens Networks' presence in North America and make it a leading supplier of wireless infrastructure products in the region.

Welcome messages (including a video) from the CEO and COO of NSN are here. - Hyung

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