Asia Express - Data Communications
Renesas to Acquire Nokia's Wireless Modem Business
July 07, 2010
Japanese semiconductor manufacturer Renesas Electronics said it has reached an US$200 million agreement with Nokia to buy the company's wireless modem business, according to a July 6, 2010 report by Reuters. Along with the deal, the two companies plan to team up for modem technology development, too. The deal between Renesas and Nokia is expected to include the transfer of approximately 1,100 R&D employees located in Finland, India, the United Kingdom, and Denmark, as well as LTE (Long Term Evolution), HSPA (High Speed Packet Access), and GSM (Global System for Mobile Communications) standards and patents related to these wireless modem technologies. The deal is scheduled to be finalized in the fourth quarter this year.