European vendor Nokia Siemens Networks (NSN) plans to offload the WiMAX platform it gained earlier this year when it acquired US counterpart Motorola Solutions’ networking assets.
NSN has announced plans to sell its complete WiMAX product portfolio…
European vendor Nokia Siemens Networks (NSN) plans to offload the WiMAX platform it gained earlier this year when it acquired US counterpart Motorola Solutions’ networking assets.
NSN has announced plans to sell its complete WiMAX product portfolio and assets, including the transfer of around 300 employees, to US solutions firm NewNet Communication Technologies for an undisclosed sum.
The group, a 50:50 joint venture between Nokia and Siemens, is refocusing on its core mobile business, and has been moving away from WiMAX to concentrate on increasingly popular LTE services.
NSN’s sale also comes hot on the heels of the group’s €110m divestment of its microwave transport business to DragonWave, the Canadian equipment manufacturer, in early November.
The JV has been looking for savings after this year calling off its search to bring in a third party investor.
On 23 November, it announced the next stage of its cost-cutting programme with plans to cut 17,000 of its 74,000 employees around the world.
Reports have suggested that NSN’s joint owners are streamlining the venture in preparation for a return to the market.
A spokesman for Nokia described gaining independence for NSN as its “ultimate goal, but the current focus is very much on strengthening NSN’s position in the industry”.
He was unable to give a timeframe for when the group could return to its search for an outside investor, but added “there currently aren’t any talks ongoing with outside investors”.
Ericsson was unable to comment before the press deadline.
