NSN moves ahead with new strategy, divests fixed line Broadband Access business

Nokia Siemens Networks continues to focus towards mobile broadband and has reached an agreement with ADTRAN Inc. for the Huntsville, Alabama based networking and communications equipment provider to acquire Nokia Siemens Networks fixed line Broadband Access business together with associated professional services and network management solutions as well as intellectual property. ADTRAN and NSN have a long standing business relationship.

Approximately 400 employees will move to ADTRAN. The existing customer base moves to ADTRAN as well. Companies do not disclose financial details beyond the fact that ADTRAN expects the acquired business to be neutral to diluted earnings per share for the first full year and accretive thereafter. The deal is expected to close in April 2012, subject to certain conditions.