Connecticut-based NewNet Communication Technologies plans to acquire the former Motorola Solutions' WiMAX business from Nokia Siemens Networks.
The deal, which must get all regulatory approvals, is expected to close by the end of the year. In addition to the complete WiMAX product portfolio, NewNet would get related employees (about 300) and assets, as well as active customer and supplier contracts.
“The addition of the WiMAX business would enhance the breadth of NewNet’s product portfolio, R&D capabilities, customer relationships and our overall market position in providing wireless infrastructure solutions to carriers on a global basis. We are thrilled at the prospect of welcoming a world-class group of WiMAX pioneers and thought leaders to the NewNet team," said Ron Pyles, president and CEO of NewNet.
“We believe that our current WiMAX customers would receive the highest quality products, services and sales support from NewNet," said Marc Rouanne, head of network systems, Nokia Siemens Networks. “This transaction would also provide an excellent opportunity for our WiMAX employees."
Most of the 300 transferring employees are based in suburban Chicago and Hangzhou, China.
Sale price of the deal was not disclosed.
