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This is big. This is call up Noah and get him to build an arc big. Nokia Siemens Networks just purchased Nortel’s wireless unit for $650 million. With one swoop, NSN just got a large chunk of CDMA and LTE intellectual property, spit in ZTE’s and Huawei’s faces, and walked straight into the American infrastructure market. NSN wants to keep the jobs of up to 2,500 people from Canada, the United States, Mexico and China, out of roughly 30,000 people total working for Nortel globally across all units. The deal is expected to close in Q3, pending approval by the courts by the end of July. Expect to hear analysts talk a lot about this on Monday when they roll into the office.
Update: The Wall Street Journal is reporting that NSN is especially looking forward to consuming one of Nortel’s research groups of 400 people working on LTE.
Oh and in case you didn’t know what NSN and Nortel do: they make network equipment that operators all around the world buy and then install, at which point teenagers use MMS to send naked pictures of themselves to each other, and that then turns them into child pornographers and sex offenders. Thus completes the circle of digital life.
[Via: Reuters]
About The Author
Stefan Constantinescu
Stefan Constantinescu (@WhatTheBit on Twitter) has loved technology since as far back as he can remember. It started with computers, but in the past few years his passion has turned to mobile devices. As a mobile phone enthusiast who lives and breathes devices that connect to the internet, he knows he is not alone with this radical fascination of all things wireless. He is strongly opinionated and enjoys a good debate so leave comments in his posts and he’ll get back to you! Stefan began blogging as a hobby in the fall of 2006 and joined IntoMobile in the summer of 2007. Later he got a job at Nokia in March 2008, but as of June 2009 he has rejoined the IntoMobile team. He is currently based out of Helsinki, Finland.
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Milan
