ADTRAN this morning announced that it is to acquire Nokia Siemens Networks’ fixed line Broadband Access business, all associated services and network management solutions, intellectual properties, technologies and the established customer base. Financial terms of the acquisition were not disclosed.
The news comes right after Nokia Siemens Networks announced that it would be laying off 17,000 people worldwide before the end of 2013. At the time, the company outlined plans to focus on mobile broadband and services, and that it would be actively divesting, selling or putting in maintenance mode business units that it considers non-core to this new ‘strategy’.
Roughly 400 people will transfer to ADTRAN globally as a result of the transaction, including engineering, R&D and sales staff.
The deal also includes provisions which would allow ADTRAN solutions to be incorporated by Nokia Siemens Networks (NSN) into its offerings.
The planned transaction is expected to close by the end of April 2012. ADTRAN says it expects the acquired business to be neutral to diluted earnings per share for the first 12 months and accretive after the first full year.
Also read: DragonWave Buys Part Of Nokia Siemens Networks, Gains 360 Employees..
Source:http://techcrunch.com/2011/12/12/adtran-buys-nokia-siemens-networks-fixed-line-broadband-access-business-400-people/
The news comes right after Nokia Siemens Networks announced that it would be laying off 17,000 people worldwide before the end of 2013. At the time, the company outlined plans to focus on mobile broadband and services, and that it would be actively divesting, selling or putting in maintenance mode business units that it considers non-core to this new ‘strategy’.
Roughly 400 people will transfer to ADTRAN globally as a result of the transaction, including engineering, R&D and sales staff.
The deal also includes provisions which would allow ADTRAN solutions to be incorporated by Nokia Siemens Networks (NSN) into its offerings.
The planned transaction is expected to close by the end of April 2012. ADTRAN says it expects the acquired business to be neutral to diluted earnings per share for the first 12 months and accretive after the first full year.
Also read: DragonWave Buys Part Of Nokia Siemens Networks, Gains 360 Employees..
Source:http://techcrunch.com/2011/12/12/adtran-buys-nokia-siemens-networks-fixed-line-broadband-access-business-400-people/
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