Nokia Networks completes transfer of part of the wireless network business acquired from Panasonic
ü Confirms closure of acquisition process started in July 2014
ü Milestone in forging closer ties with Japan, a key market for Nokia Networks
Espoo, Finland - 5 January 2015
Pursuant to the announcement made on July 31, 2014, Nokia Networks has now completed the business transfer of a part of the wireless network business of Panasonic System Networks Company Limited (PSN) in Japan. As originally stated, this includes the transfer of fixed assets, employees and relevant contracts from Panasonic to Nokia Networks.
Will improve efficiency and quality control for product development and R&D
The agreement covers Panasonic’s mobile phone wireless base station system business for mobile operators and related wireless equipment system business. This acquisition enhances Nokia Networks’ existing mobile broadband capabilities and is expected to reinforce and further improve efficiency and quality control for product development and R&D, as well as strengthen its market share for base station systems and related wireless equipment in Japan.
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The acquisition includes:
ü Panasonic’s LTE/3G wireless base station system business
ü Related wireless equipment system business
ü Fixed assets and business contracts with Panasonic’s customers get transferred to Nokia Networks Japan
ü More than 300 Panasonic employees involved in the transferring business
Ashish Chowdhary, Chief Business Officer at Nokia Networks, said: “With this acquisition, Nokia Networks will single-handedly contribute towards the domestic and overseas business of Japan’s operators, and also benefit from synergies in terms of efficient product operations and focused R&D efforts. Furthermore, this acquisition also provides us with the opportunity to tap the potential of the Carrier Mobile System market – a key focus area for our business in Japan.”
With proven base station technology, along with an industry-leading portfolio and strong footprint in the Carrier Mobile System Market, Panasonic is one of the most trusted brands in Japan’s telecommunications landscape.
Did you know?
Japan, globally renowned for its innovation capabilities and high quality standards, is a key market in Nokia Networks’ strategy to focus on becoming the highest quality and most innovative mobile broadband company. Nokia Networks is the only foreign vendor to supply network infrastructure, software and services to all Japanese operators.
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TAGS: Japan, Nokia Networks, Mobile Broadband, Panasonic, acquisition, quality