The fixed line Broadband Access business has not been kind to Nokia (
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Alert) Siemens Networks and the company has been searching for a way out. U.S. firm Adtran offered the struggling telecom network equipment manufacturer an out, offering to purchase the business unit in an effort to revamp its own operations.
According to this Reuters (
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post, the impending sale is just the first of the planned divestments for NSN since the company announced last month that it would sell units and eliminate 17,000 jobs, representing nearly 25 percent of its workforce.
“Nokia Siemens (
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Alert) Networks’ long standing customer relationships, combined with ADTRAN’s long term focus and financial strength, make this a very favorable outcome for customers, employees and shareholders. With this planned acquisition, ADTRAN will combine its success with the strength of Nokia Siemens Networks’ (
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Alert) Broadband Access business to deliver a full
portfolio of solutions to meet customer needs on a global scale,” said ADTRAN CEO Tom Stanton, in a company statement...
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