The Associated Press is reporting that Nokia Siemens Networks has purchased a majority interest in Motorola’s wireless networking business for an estimated $1.2 billion. In recent years, Nokia Siemens Networks has seen their profit margins dwindle due to lower demand for their products and the economic recession that has affected global markets.
With this latest acquisition, Nokia Siemens hopes to become a more prominent player, particularly within two major markets, the US and Japan. In addition to this, the Finnish company will develop new relationships with over 50 operators, many of whom exist within the US including Verizon Wireless and Sprint Nextel Corp.
CEO Rajeev Suri was on record as describing the deal as an “exciting acquisition … with significant benefits for customers, employees and our shareholders”
Via: Geeky Gadgets
