Confirms closure of acquisition process started in July 2014
Milestone in forging closer ties with Japan, a key market for Nokia Networks
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 Panasonics 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.
Click to Tweet: #Nokia completes acquisition of part of Panasonics wireless networks business in Japan @nokianetworks http://nokia.ly/14gItug
The acquisition includes:
Panasonics LTE/3G wireless base station system business
Related wireless equipment system business
Fixed assets and business contracts with Panasonics customers get transferred to Nokia Networks Japan
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 Japans 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 Japans 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
About Nokia
Nokia invests in technologies important in a world where billions of devices are connected. We are focused on three businesses: network infrastructure software, hardware and services, which we offer through Nokia Networks; location intelligence, which we provide through HERE; and advanced technology development and licensing, which we pursue through Nokia Technologies. Each of these businesses is a leader in its respective field.
Nokia Networks is the worlds 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 worlds most efficient mobile networks, the intelligence to maximize the value of those networks, and the services to make it all work seamlessly. www.networks.nokia.com // http://company.nokia.com
FORWARD-LOOKING STATEMENTS
It should be noted that Nokia and its business are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements, including, without limitation, those regarding: A) expectations, plans or benefits related to Nokias strategies; B) expectations, plans or benefits related to future performance of Nokias continuing businesses Nokia Networks, HERE and Nokia Technologies; C) expectations, plans or benefits related to changes in leadership and operational structure; D) expectations regarding market developments, general economic conditions and structural changes; E) expectations and targets regarding performance, including those related to market share, prices, net sales and margins; F) the timing of the deliveries of our products and services; G) expectations and targets regarding our financial performance, cost savings and competitiveness, as well as results of operations; H) expectations and targets regarding collaboration and partnering arrangements; I) the outcome of pending and threatened litigation, arbitration, disputes, regulatory proceedings or investigations by authorities; J) expectations regarding restructurings, investments, uses of proceeds from transactions, acquisitions and divestments and our ability to achieve the financial and operational targets set in connection with any such restructurings, investments, divestments and acquisitions, including any expectations, plans or benefits related to or caused by the transaction announced on September 3, 2013 where Nokia sold substantially all of the Devices & Services business to Microsoft on April 25, 2014 (Sale of the D&S Business); K) statements preceded by or including believe, expect, anticipate, foresee, sees, target, estimate, designed, aim, plans, intends, focus, continue, project, should, will or similar expressions. These statements are based on managements best assumptions and beliefs in light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors, including risks and uncertainties that could cause these differences include, but are not limited to:
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Confirms closure of acquisition process started in July 2014
