NewNet Communication Technologies plans to acquire the former Motorola Solutions’ WiMAX business from Nokia Siemens Networks. Under the terms of the agreement, NewNet will acquire the complete WiMAX product portfolio, the related employees and assets, as well as active customer and supplier contracts. Approximately 300 Nokia Siemens Networks employees would transfer to NewNet. The companies expect to close before December 31, 2011.
Nokia Siemens last week announced cost-cutting measures. (For more, see Nokia Siemens Trims Work Force, Suppliers).
Ron Pyles, president and CEO of NewNet, said in a statement, “NewNet recognizes there is enormous potential in providing outstanding products, support and services to operators who have already invested heavily in WiMAX technologies as well as those who will do so in the future.”??
As a part of the transaction the companies expect to transition approximately 300 globally deployed Nokia Siemens Networks employees to NewNet. Many of these employees are based in suburban Chicago and Hangzhou, China.