A week after announcing plans to cut 17,000 jobs as part of a restructuring, Nokia Siemens Networks said today that it was selling off the WiMAX assets it acquired from Motorola Solutions to NewNet.
Those WiMAX assets were acquired earlier this year for $1.2 billion and included Motorola Solutions’ CDMA assets.
The NewNet deal, which is expected to close by the end of the year, includes all related assets, active customer and supplier contracts, and about 300 NSN employees. Many of the employees are based in Chicago and Hangzhou, China. Financial terms of the deal were not released.
As part of its restructuring plan, NSN said it would focus its efforts on mobile broadband equipment, which apparently does not include WiMAX technology. NSN recently was included in an announced trial of LTE services across London with Telefonica’s O2, as well as garnering a network upgrade contract in Finland from TeliaSonera.
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