Nokia Siemens has agreed to buy Motorola’s (MOT) wireless network assets for $1.2 billion in cash.
Nokia Siemens is a joint venture of Nokia (NYSE:NOK) and Siemens (NYSE:SI).
Motorola said the deal will allow it to sharpen it strategic focus.
Nokia Siemens said the acquisition will give it incumbant relationships with more than 50 operators and will strengthen its position with China Mobile (NYSE:CHL), Clearwire (NASDAQ:CLWR), KDDI, Sprint (NYSE:S), Verizon Wireless and Vodafone (NASDAQ:VOD). Verizon Wirless is a joint venture between Verizon (NYSE:VZ) and Vodafone.
The transaction is expected to close by the end of 2010.
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