ADTRAN Intends to Acquire Nokia Siemens Networks Fixed Line BBA

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ADTRAN Intends to Acquire Nokia Siemens Networks Fixed Line BBA ADTRAN Intends to Acquire Nokia Siemens Networks Fixed Line BBAADTRAN Intends to Acquire Nokia Siemens Networks Fixed Line BBA

 

13 December 2011

ADTRAN, one of leading providers of next-generation networking solutions, has officially announced that the company plans to purchase, through a purchase agreement and an asset sale, the Nokia Siemens Networks fixed line Broadband Access business, along with network management solutions and associated professional services. The acquisition will include the Broadband Access intellectual properties, the established customer base and technologies.
As part of the transaction, about 400 people, including sales and professional services, R&D and engineering employees, are expected to transfer to ADTRAN.
Additionally, the agreement includes provisions allowing ADTRAN solutions to be incorporated by Nokia Siemens Networks into customer propositions, extending ADTRAN’s business opportunities.
The transaction is expected to be completed by the end of April 2012. Upon a completion of this transaction, ADTRAN “expects the acquired business will be neutral to diluted earnings per share for the first full year and accretive thereafter.”
Nokia Siemens Networks’ representatives commented that this planned divestment would provide company’s existing fixed broadband access customers with a high-quality service from a company focused on its needs. “The planned sale is in line with our new strategy to increase our focus on the mobile broadband and services market.”

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