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Nokia Siemens divests optical networks unit

Posted: 06 Dec 2012 ?? ?Print Version ?Bookmark and Share

Keywords:optical networks? mobile broadband? divestment?

Nokia Siemens Networks has agreed to sell its Optical Networks business unit to private investment firm Marlin Equity Partners as the Finnish telecom firm seeks to cultivate its mobile broadband products and services.

Amid a fragmented optical networking sector, Marlin Equity Partners will work on establishing its acquisition as an independent, competitive market player, said Pat DiPietro, telecom sector operating partner at the investment firm.

The planned transaction is another step in the transformation of Nokia Siemens Networks into a mobile broadband specialist and will give both businesses the opportunity to concentrate investment and strategic focus on their core segments. CEO Rajeev Suri said the divestment will enable Nokia Siemens Networks to improve on its core markets as a mobile broadband specialist and focus investments in areas such as LTE.

The new optical company will be headquartered in Munich, Germany and will be led by its existing management team with Herbert Merz nominated as chief executive officer. Its 1,900 employees C mainly in Germany, Portugal and China C are expected to transfer to the new company in line with applicable local legal requirements. Related existing customer contracts are planned to be transferred. The transaction is expected to close in the first quarter of 2013.





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