US-based networking solutions provider Adtran has announced plans to acquire Nokia Siemens Networks’ fixed line Broadband Access business (BBA).
The planned transaction, expected to close in April 2012, will see Adtran acquire BBA’s intellectual…
US-based networking solutions provider Adtran has announced plans to acquire Nokia Siemens Networks’ fixed line Broadband Access business (BBA).
The planned transaction, expected to close in April 2012, will see Adtran acquire BBA’s intellectual properties, technologies, customers and associate professional services and network management solutions for an undisclosed sum.
As part of the agreement, up to 400 BA employees are expected to transfer to Adtran globally.
NSN, a 50:50 joint venture between Finland’s Nokia and Siemens, has made several divestments in recent months in an effort to refocus on its core mobile business and increasingly popular LTE Services. In November, the group announced plans to sell its microwave transport business to Canada’s DragonWave for €110m; and its WiMAX platform to the US’ NewNet Communication for an undisclosed sum.
Adtran chief executive, Tom Stanton, said he believed the acquisition will enable the company to strengthen its position in key markets globally.
“Nokia Siemens Networks’ long standing customer relationships, combined with Adtran’s long-term focus and financial strength, make this a very favorable outcome for customers, employees and shareholders,” he said.
