Monday, July 5, 2010

Nokia Sells Wireless Modem Business to Renesas

Renesas Electronics will acquire Nokia's wireless modem business for approximately USD 200 million. The companies are also forming an alliance for long-term joint research cooperation on HSPA+, LTE and future radio technologies.


The wireless modem business to be transferred to Renesas Electronics includes Nokia's wireless modem technologies for LTE, HSPA and GSM standards, which have been used for billions of handsets in the global market over the years. Further, Nokia transfers Renesas Electronics certain patents related to the transferred technology asset. The planned transfer would also include approximately 1,100 Nokia R&D professionals, the vast majority of whom are located in Finland, India, the UK and Denmark.


Renesas said the acquisition of Nokia's wireless modem business complements its own line-up of application processors, RF transceiver ICs, high power amplifiers, and power management devices, making it one of the leading chipset vendors in the 3G and LTE market that is capable of providing one-stop mobile platform solution.


"The agreement with Nokia demonstrates our long-standing commitment to shape the future of advanced mobile platforms and will serve as an important step for us to become a leading mobile platform vendor in the global market. Our collaboration with Nokia will enable consumers to enjoy true mobile cloud computing experiences through our advanced high-speed mobile devices," said Yasushi Akao, President of Renesas Electronics Corporation. "In line with our ongoing efforts to strengthen our business structure, the transferring wireless modem technology and the innovation power and expertise of Nokia's employees will perfectly complement our core competences and serve as the key driving forces in growing our mobile business in the global market."http://www.nokia.com
http://www.renesas.com

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