Nokia Siemens Networks is selling its WiMAX business to NewNet Communication Technologies, LLC, a Skyview Capital, LLC portfolio company, for an undisclosed sum. This business unit was originally part of the Motorola Solutions' assets that Nokia Siemens Networks acquired earlier this year. The deal includes he complete WiMAX product portfolio, the related employees and assets, as well as active customer and supplier contracts. Approximately 300 Nokia Siemens Networks employees would transfer to NewNet. Many of these employees are based in suburban Chicago, USA and Hangzhou, China. The companies expect to close before December 31, 2011.
NewNet is a supplier of signaling and messaging solutions for wireless, IP, and wireline networks.
"We believe that our current WiMAX customers would receive the highest quality products, services and sales support from NewNet,�? said Marc Rouanne, head of Network Systems, Nokia Siemens Networks. “This transaction would also provide an excellent opportunity for our WiMAX employees. We have great confidence in NewNet's plans to become a major WiMAX infrastructure provider." http://www.nokiasiemensnetworks.com
- NewNet, which is based in Shelton, CT, is headed by Ronald E. Pyles, who previously was President of Continuous Computing Corporation, a developer of hardware and software building blocks used by leading telecommunications equipment manufacturers.
- Earlier this month, Nokia Siemens Networks reached an agreement to sell its microwave transport business, including its associated operational support systems (OSS) and related support functions, to DragonWave in a transaction potentially worth up to EUR 110 million. The deal provides DragonWave with an existing microwave transport business serving many top carriers worldwide, a more extensive product portfolio, an on-going agreement under which its will become the preferred, strategic supplier to Nokia Siemens Networks of packet microwave and related products, and joint R&D work with NSN. The division has sales several times larger than DragonWave, its client base is much larger, and it has more employees (360), mainly based in Milan, Italy and Shanghai, China.
