Nokia Siemens sells Expedience business
Another day and another move by Nokia Siemens to offload non-core businesses, with an agreement to sell its proprietary fixed-wireless broadband business Expedience.
The infrastructure vendor today revealed it is selling Expedience to privately held Spanish technology holding firm CN Tetragen. The deal covers all assets of NSN’s fixed-wireless division, including active customer and supplier contracts.
“We believe our customers will benefit from the greater focus, scale and concentration on Expedience that CN Tetragen can offer,” says Stephan Scholz, head of divestment projects at NSN.
Kiriako Vergos, chairman and chief executive of the Spanish firm, says the acquisition leaves it well placed “to ensure continuity for the manufacturing of the Expedience technology, while developing a solid roadmap for its future.”
Nokia Siemens yesterday revealed it is transferring 240 R&D staff from its Finnish OSS and SDM facilities to IT services firm Tieto, as part of a plan to focus solely on mobile broadband infrastructure announced in November.