Nokia snaps up cable specialist Gainspeed
Nokia has announced the acquisition of Gainspeed in a bid to strength the firm's position in the cable and networking space.
On Tuesday, Nokia announced the planned buyout in a press release, which will result in Gainspeed joining Nokia's Fixed Networks team and increasing the firm's cable technologies portfolio.
Financial details were not disclosed.
Founded in 2012, privately-held Gainspeed is located in Sunnyvale, California, and has roughly 70 employees. The company specializes in improving cable capacity and to reduce overburdening through software-driven, all-IP distributed access architecture addresses.
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Nokia hopes that Gainspeed's Virtual CCAP (Converged Cable Access Platform) solution will complement the company's fiber by giving multiple system operators (MSOs) extended control over network and cable resources.
According to Gainspeed, the CCAP platform gives operators centralized control of systems, enabling businesses to scale-up when faced with growing capacity requirements, quickly deploy new services and reduce expenses.
Krish Padmanabhan, CEO of Gainspeed commented:
"Gainspeed is excited to become part of the Nokia family. The cable industry is in the midst of major changes driven by the competitive environment, consumer and business demands, and technological landscape.
Together, Gainspeed and Nokia could deliver the innovation the cable industry needs to address these challenges."
The deal is expected to close in Q3 2016.