Nokia Siemens Networks completes the sale of its microwave transport business to DragonWave
Nokia Siemens Networks announced today that the company has completed the transaction to sell its microwave transport business, including associated operational support systems (OSS) and related support functions (the “business”) to DragonWave, Inc. (TSX: DWI; NASDAQ: DRWI). The deal was completed under the terms of the amended agreement announced on May 3, 2012.
In line with the agreement, DragonWave is the preferred, strategic supplier to Nokia Siemens Networks of packet microwave and related products, and the companies will jointly coordinate technology development activities.
The acquisition of the business in China is expected to be completed in the second half of 2012, once all of the licenses and permissions to do so are in place. Employees of Nokia Siemens Networks based in Shanghai would transfer to DragonWave at that time.
About Nokia Siemens Networks
Nokia Siemens Networks is the world’s specialist in mobile broadband. From the first ever call on GSM, to the first call on LTE, we operate at the forefront of each generation of mobile technology. Our global experts invent the new capabilities our customers need in their networks. We provide the world’s most efficient mobile networks, the intelligence to maximize the value of those networks, and the services to make it all work seamlessly.
With headquarters in Espoo, Finland, we operate in over 150 countries and had net sales of over 14 billion euros in 2011. http://www.nokiasiemensnetworks.com
