Nokia Siemens sells fixed broadband biz

Nokia Siemens sells its fixed broadband unit to U.S. networking equipment vendor, Adtran, as the Finnish-German company continues restructuring to cut costs and focus on mobile broadband.

Nokia Siemens Networks (NSN) has announced plans to sell its fixed line broadband access business to Adtran, as the company undergoes massive restructuring to cut annual costs and focus on mobile broadband.

Expected to close in April next year, the acquisition includes the Broadband Access intellectual properties, technologies and customer base, Nokia Siemens said in a media statement Monday. Alabama, U.S.-based Adtran provides next-generation networking and communications equipment.

It added that around 400 personnel globally, which will include R&D, sales and professional services employees, will also be transferred to Adtran.

"We believe that this planned divestment would provide our existing fixed broadband access customers with a continuous high-quality service from a company focused on their needs," said Marc Rouanne, head of mobile broadband at Nokia Siemens Networks. "The planned sale is in line with our new strategy to increase our focus on the mobile broadband and services market."

Last month, Nokia Siemens announced it would cut 17,000 jobs worldwide by end-2013 as part of a massive restructuring plan to reduce operating expenses and production overhead, as well as realign focus on mobile broadband.

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