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Nokia Siemens Networks agrees Broadband Access sale

Nokia Siemens Networks has agreed a deal to sell its Broadband Access business to ADTRAN, with around 400 staff expected to move as a result.

12 December 2011

Nokia Siemens Networks has agreed to sell its fixed-line Broadband Access business to networking solutions provider ADTRAN.

The deal is expected to be concluded by the end of April 2012 following a consultation period - which may see key members of staff negotiating contracts for their new roles - and conclusion of transition services.

Around 400 workers worldwide are expected to move from Nokia Siemens Networks and chief executive officer at ADTRAN Tom Stanton described the deal as "a very favourable outcome for customers, employees and shareholders".

He said the planned acquisition will enable the firm to "deliver a full portfolio of solutions to meet customer needs on a global scale".

ADTRAN - which recorded $606 million (£387 million) in revenue in 2010 - will assume ownership of Nokia Siemens Networks' Broadband Access intellectual properties, technologies and its customer base once the deal is completed and Mr Stanton added it will give ADTRAN a presence in "key markets".

Posted by Ron Maverick

Source: Nokia Siemens Networks statement, December 12th

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