View Full Version : Nokia Siemens Networks selling the WiMAX business

2011-12-01, 03:12 PM
Nokia Siemens Networks has announced that it selling the WiMAX business that it acquired from Motorola Solutions to NewNet Communication Technologies for an undisclosed amount.
Under the terms of the agreement, Newnet would 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. Many of these employees are based in Chicago, USA and Hangzhou, China.The sale comes a week after the company announced plans to cut 17,000 jobs and divest some of its assets.