Nokia Siemens Networks and Motorola today announced that Nokia Siemens will acquire the majority of Motorola's wireless network infrastructure assets. Said assets come at the price of $1.2 billion in cash.
"This is an exciting acquisition that I believe has significant benefits for customers, employees and our shareholders," said Nokia Siemens Networks CEO Rajeev Suri. "Motorola’s current customers will continue to get world-class support for their installed base and a clear path for transitioning to next generation technologies while employees will join an industry leader with global scale and reach. Nokia Siemens Networks will see the benefits of a deal that is expected to enhance profitability and cash-flow and to have significant upside potential."
Motorola - Nokia Siemens buying wireless network assets"Motorola is very proud of the operational and financial performance of our Networks business and its employees, who will now become a valuable addition to Nokia Siemens Networks. We are excited to have reached this agreement to combine our Networks team with such an industry leader," said Greg Brown, Co-CEO of Motorola.
Click to Read More
