Mergers and Acquistions News
Categories: Telecoms
December 13th 2011, 16:37PM
Networking solutions company Adtran is to acquire fixed line broadband from Nokia Siemens Networks, it has been announced this week.
All associated professional services and network management solutions will also be included in the deal as the Finish company seeks to sell off more of its products.
While financial details were not disclosed, the deal also includes the Broadband Access intellectual properties, technologies and an established customer base, as well as 400 employees who will transfer to Adtran.
The move comes as Adtran seeks to expand outside the US. The transaction is expected to take place in April 2012.
"Service providers around the world are seeing high bandwidth services as an integral component of their future opportunities," commented Adtran chief executive Tom Stanton.
"This strategic acquisition would position Adtran in key markets with an established customer base; complementary market-focused products; along with engineering, R&D, sales and professional services resources that will enable Adtran to take a significant step forward as one of the world’s leading communications solutions providers."
Since announcing its restructuring plan, Nokia has sold its WiMax unit as its aims to cut costs by €1 billion by 2013.
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