NewNet to Buy Motorola WiMAX Business from NSN
NEW YORK (AP) — NewNet Communication Technologies LLC, a small, privately held firm, on Tuesday said it has agreed to buy the WiMAX wireless network business that once belonged to Motorola from Nokia Siemens Networks.
Terms were not disclosed. The deal involves the transfer of 300 employees, mainly in suburban Chicago and in Hangzhou, China.
Nokia Siemens, a joint venture of Nokia Corp. of Finland and Siemens AG of Germany, bought Motorola's wireless network division in April for more than $1 billion. The WiMAX business represents a small part of that acquisition.