Mobile broadband provider Nokia Networks said today that it has completed the acquisition of a part of the wireless network business of Panasonic System Networks (PSN) in Japan.
According to a media statement, this acquisition includes the transfer of fixed assets, employees and relevant contracts from Panasonic to Nokia Networks. The agreement also covers Panasonic's mobile phone wireless base station system business for mobile operators and related wireless equipment system business.
Nokia Networks said this acquisition enhances the company's existing mobile broadband capabilities. It also expects the deal to reinforce and further improve efficiency and quality control for product development and R&D, as well as strengthen its market share for base station systems and related wireless equipment in Japan.
"The acquisition provides us with the opportunity to tap the potential of the Carrier Mobile System market - a key focus area for our business in Japan," said Ashish Chowdhary, chief business officer, Nokia Networks.
Nokia Networks announced the deal on July 31, 2014 but did not disclose any financial details so far.
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