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NSN sells fixed broadband access unit
12 December 2011
No price quoted as US company Adtran buys fixed line broadband access unit in NSN move to wireless
Nokia Siemens Networks
Nokia Siemens Networks is to sell its fixed broadband access business to US group Adtran in the latest phase of its concentration on the wireless market.
The deal — for which no price has been given — will include 400 NSN employees, including engineering, R&D, sales and professional services employees, and includes NSN’s associated professional services and network management solutions as will as intellectual properties, technologies and the established customer base.
Adtran says the deal is expected to close by the end of April 2012, though NSN has to consult with employees’ representatives in certain countries first and will need other approvals.
Nasdaq-quoted Adtran is based in Alabama and is 26 years old. Its revenue in 2010 was $606 million.
Tom Stanton, CEO of Adtran, said “Nokia Siemens Networks’ long standing customer relationships, combined with Adtran’s long term focus and financial strength, make this a very favorable outcome for customers, employees and shareholders.”
Marc Rouanne, head of mobile broadband at Nokia Siemens Networks, said: “The planned sale is in line with our new strategy to increase our focus on the mobile broadband and services market.” GTB
Further reading from Global Telecoms Business:
NSN sells WiMax to private equity company 30 Nov 2011
NSN to lose 23% of staff in restructuring 23 Nov 2011
NSN sells microwave transport for €15m 04 Nov 2011
Nokia and Siemens pump €1bn into NSN 29 Sep 2011
NSN 'needs further €1bn' for restructuring 18 Aug 2011
Nokia and Siemens drop private equity search 13 Jul 2011
NSN 'unsuccessful' in deal for equity stake 27 Jun 2011
NSN buys Motorola operation for $975m 03 May 2011