NSN restructure gathers pace with second sale
Nokia Siemens Networks (NSN) continues to offload non-mobile businesses, agreeing to sell its fixed line broadband access division to ADTRAN as part of a restructure.
The sale covers NSN’s broadband access intellectual property, technology and customers, and 400 R&D and sales staff. The pair predict competition clearance will be completed by April, and have made provision for NSN to include future ADTRAN products into its customer offerings, which allows the joint venture to maintain a presence in the fixed broadband market without the development costs.
ADTRAN chief Tom Stanton says the purchase opens the door to key global markets that enable it to “take a significant step forward as one of the world’s leading communications solutions providers.”
The deal comes on the back of Nokia Siemens’ decision to focus solely on providing mobile broadband kit and managed services, in a bid to shave €1 billion from its operating costs by end 2013. The restructure will see up to 17,000 staff axed from the joint venture, and resulted in the vendor agreeing to sell its Wimax business to US-based NewNet Communications late November.