Motorola is close to selling its network business to Nokia Siemens Networks for $1.2 billion reports Reuters citing an unnamed source.
Motorola is close to selling its network business to Nokia Siemens Networks for $1.2 billion reports Reuters citing an unnamed source.
The could be announced as early as Monday, the source said. According to Reuters Motorola plans to keep its iDen technology, which works for walkie-talkie types of communications
The Wall Street Journal reported las week that Nokia Siemens Networks is in talks to buy Motorola’s network equipment business.
Last year, Nokia Siemens Networks tried to buy Nortel’s CDMA and LTE networks businesses in US$650 million but Ericsson ended up winning the assets with a $1.13 billion bid.
Motorola is splitting into two units: one comprising phones and set-top boxes, and the other its communications and network equipment business.
Motorola is currently committed to to both WiMAX and Long Term Evolution (LTE) technologies and has commercial readiness for LTE deployments through its involvement in more than 20 LTE trials or engagements with customers around the world – including its contract with Zain Saudi Arabia and activities with KDDI and China Mobile Communications Corporation (CMCC).