Nokia Siemens Networks completes $975m acquisition
Nokia purchased Motorola Solutions, 6,900 employees will transfer to Nokia
Nokia Siemens Networks and Motorola Solutions have jointly announced the completion of the acquisition of Motorola Solutions’ Network assets by Nokia Siemens Networks for $975m in cash.
From 30th April 2011, the responsibility for supporting customers using Motorola Solutions’ GSM, CDMA, WCDMA, WiMAX and LTE products and services fell on 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.”
The acquisition has strengthened Nokia Siemens Networks’ position in North America, Japan and other key regions as well as strengthening its position among the world’s major service providers, according to Nokia Siemens Networks.
In terms of revenue, the addition of Motorola Solutions’ Networks assets makes Nokia Siemens Networks the third largest wireless infrastructure vendor in the US and the leading non-Japanese wireless vendor in Japan.
The acquisition also reinforces Nokia Siemens Networks’ position as the world’s second largest wireless infrastructure and services provider.
“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."
Approximately 6,900 employees will now transfer to Nokia Siemens Networks from Motorola Solutions and Nokia Siemens Networks will now be responsible for
supporting 50 operators across 52 countries.
Nokia Siemens Networks is also in the process of acquiring a number of research and development facilities in the US, China, Russia, India and the UK.