DragonWave completes business negotiations for Nokia group
A deal has been agreed for DragonWave to take over Nokia Siemens Network.
DragonWave has unveiled plans to acquire Nokia Siemens Networks' microwave transport business.
Significant sales negotiations may be underway, as the two parties look to agree a deal that is suitable for both of them.
As well as taking ownership of the firm, DragonWave - which is a leading provider of high-capacity packet microwave solutions - will become the preferred strategic supplier to Nokia Siemens Networks.
The aim is for the international business negotiations to be completed by the first quarter of 2012, as long as the customary terms and conditions are met.
Marc Rouanne, head of network systems at Nokia Siemens Networks, stated DragonWave's "proven capabilities for innovative product development and focus on ... end-to-end solutions" will ensure customers continue to receive high-quality service.
He added the strategic partnership will benefit everyone as individuals can look forward to using industry-leading technology.
Some 360 employees from Nokia Siemens Networks will transfer to DragonWave as part of the agreement.
Posted by Ron Maverick
Source: DragonWave press release, November 4th