July 28, 2010
Nokia Siemens Buys Motorola Gear Business For $1.2B
(Adds further executive and analyst comments, background throughout.)
Telecom equipment vendor Nokia Siemens Networks said Monday it has agreed to pay $1.2 billion for the majority of U.S.-based Motorola Inc.’s (MOT) network equipment business in order to gain a stronger foothold in the important North American and Japanese markets.
In a joint statement, the companies said they expect the all-cash deal to close by the end of 2010.
Nokia Siemens is making the acquisition primarily to boost its position in markets like the U.S. and Japan and gain access to new customers, but the deal will also provide economies of …