Thursday, July 31, 2014

Nokia to buy Panasonic’s Basestation Business

Nokia Networks plans to acquire part of the wireless networks business of Panasonic System Networks.  Financial terms were not disclosed.

The deal covers Panasonic’s LTE/3G wireless base station system business for mobile operators and related wireless equipment system business.

“Japan is a key market for us, and this agreement is a major milestone in forging closer ties in Japan,” said Ashish Chowdhary, Executive Vice President, AMEA, Nokia Networks. “The acquisition of part of Panasonic’s wireless network business would further strengthen our mobile broadband portfolio and add significant value for Japanese operators.”