NewNet plans to acquire Nokia Siemens Networks WiMAX business
NewNet Communication Technologies, LLC, a Skyview Capital, LLC portfolio company, announced today that the company plans to acquire the former Motorola Solutions’ WiMAX business from Nokia Siemens Networks. Under the terms of the agreement, NewNet would acquire the 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. The companies expect to close before December 31, 2011.
“The addition of the WiMAX business would enhance the breadth of NewNet’s product portfolio, R&D capabilities, customer relationships and our overall market position in providing wireless infrastructure solutions to carriers on a global basis. We are thrilled at the prospect of welcoming a world-class group of WiMAX pioneers and thought leaders to the NewNet team,” said Ron Pyles, president and CEO of NewNet. “NewNet recognizes there is enormous potential in providing outstanding products, support and services to operators who have already invested heavily in WiMAX technologies as well as those who will do so in the future. We are committed to serving the market with an industry leading roadmap and innovative product migration options.”
“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. The company has a solid track record in acquiring telecommunication businesses and driving revenue growth.”
“This transaction represents a significant milestone in our strategy of building a strong global presence in the telecommunications marketplace through NewNet Communication Technologies”, said Alex Soltani, chairman and CEO of Skyview Capital. “We are very excited about the WiMAX market opportunity and are fully committed to supporting Ron and his team as they evolve the business into a global leadership position.”
As a part of the transaction the companies expect to transition approximately 300 globally deployed Nokia Siemens Networks employees to NewNet. Many of these employees are based in suburban Chicago, USA and Hangzhou, China. Nokia Siemens Networks and NewNet believe this acquisition would provide transferring employees with attractive professional growth opportunities in a solid, technologically advanced company that has an on-going focus within their core areas of expertise.
Specific terms of the transaction were not disclosed.
About Nokia Siemens Networks
Nokia Siemens Networks is a leading global enabler of telecommunications services. With its focus on innovation and sustainability, the company provides a complete portfolio of mobile, fixed and converged network technology, as well as professional services including consultancy and systems integration, deployment, maintenance and managed services. It is one of the largest telecommunications hardware, software and professional services companies in the world. Operating in 150 countries, its headquarters are in Espoo, Finland. For more information please visit www.nokiasiemensnetworks.com.
NewNet Communication Technologies, LLC is a leading provider of innovative solutions for next generation mobile and fixed line networks. NewNet enables global telecom operators and equipment manufacturers to rapidly develop and deploy cutting edge, revenue-generating applications that deliver feature-rich, value added services. Recognized as a trusted leader in the carrier applications market for over 20 years, NewNet has been synonymous with telecom product excellence and development expertise. The company is committed to providing unparalleled service to its customers. With installations in major carrier networks in over 70 countries, NewNet’s product offerings include: Mercury, the industry’s most complete purpose-built, mobile multimedia content delivery platform; TraxcomSecure® electronic transaction processing solutions, which deliver services such as mobile payments, e-banking, and e-commerce; and the Total Control PDSN platform, which provides economic delivery of premium mobile data services in CDMA networks. Other products include SS7, the world’s first standards-based signalling platform, and a short message service center (SMSC), which has been deployed in more than 200 wireless networks worldwide. The company is headquartered in the USA, with sales and support teams located around the world. For more information, visit www.newnet.com.
About Skyview Capital, LLC
Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and management of “systems critical” businesses in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial strength, Skyview systematically enhances the long-term value of the companies it acquires. For more information, visit www.skyviewcapital.com.
Media Contacts
Nokia Siemens Networks
Kathy Wiesner
Media & Industry Analyst Relations
E-mail: kathy.wiesner@nsn.com
Tel: +1 847 875 0166
Press Office
E-mail: mediarelations@nsn.com
Tel: +358 7180 31451
NewNet Communication Technologies
Prasad Kallur
EVP PLM & Marketing
E-mail: prasad.kallur@newnet.com
Tel: +1 214 850 1643
