NSN sells fixed-wireless broadband business.
Nokia Siemens Networks (NSN) has sold its fixed-wireless broadband business as it continues with its restructuring programme. The vendor announced that privately held Spanish firm, CN Tetragen, has bought the business, although no financial terms were disclosed.
Under the terms of the transaction, CN Tetragen will acquire the complete Expedience portfolio, assets, and the active customer and supplier contracts. The Spanish holding group has set up a company called Nexpedience Networks to operate the Expedience assets.
"With this acquisition, we are in a good position to ensure continuity for the manufacturing of the Expedience technology while developing a solid roadmap for its future. We are extremely committed to achieving this," said Kiriako Vergos, chairman and CEO of CN Tetragen. Stephan Scholz, head of divestment projects for network systems at NSN added that customers will benefit from the greater focus, scale and concentration on Expedience that CN Tetragen can offer.
"The divestment is part of Nokia Siemens Networks new strategy where we'll focus on mobile broadband and services," he said.