NewNet finishes business negotiations for WiMAX
Sales negotiations have been completed on an agreement that will
see NewNet Communication Technologies take over Motorola Solutions'
The final price agreed with the current owner - Nokia Siemens
Networks - has not been disclosed, but the deal is expected to be
tied up before the end of December 2011.
Ron Pyles, president of NewNet - which has over 74,000 employees
in more than 150 countries - said the acquisition will increase the
"product portfolio" that his organisation can offer its
"We are thrilled at the prospect of welcoming a world-class
group of WiMAX pioneers and thought leaders to the NewNet team," he
Mr Pyles continued by saying that he expects the migration
options to be "innovative".
As part of the arrangement, 300 Nokia Siemens Networks employees
will be transferred to NewNet, whit the majority of these located
in Chicago, US and Hangzhou, China.
Posted by Ron Maverick
Source: Nokia Siemens Networks press release, November 29th