Nokia Siemens Networks to Acquire Certain Wireless Network Infrastructure Assets of
Motorola for USD 1.2 Billion
Transaction expected to significantly strengthen Nokia Siemens Networks' presence globally, particularly in the United States and Japan.
Nokia Siemens Networks targeting to gain incumbent relationships with more than 50 operators and strengthen relationships with others.
Acquisition to enhance position of Nokia Siemens Networks in key wireless technologies; will give company large global footprint in CDMA.
Motorola retains the iDEN business, substantially all the patents related to its wireless network infrastructure business,and other selected assets.
The companies expect to complete closing activities by the end of 2010.
Espoo, Finland; Schaumburg, Illinois – July 19, 2010 – Nokia Siemens Networks and Motorola, Inc. (NYSE: MOT)
Today jointly announced that the companies have entered into an agreement under which Nokia Siemens Networks will acquire the majority of Motorola's wireless network infrastructure assets for US $1.2 billion in cash. The companies expect to complete closing activities by the end of 2010, subject customary closing conditions including regulatory approvals.
