Nokia Siemens Networks continues to shed non-core businesses as it tries to cut its debt load.
Today the company said that it is selling its complete WiMAX product line to NewNet Communications Technologies LLC, a Connecticut-based manufacturer of fixed and wireless equipment and support software for carriers.
According to a press release, NewNet would buy for an undisclosed price the complete NSN WiMAX product portfolio and staff who work on the line, as well as active customer and supplier contracts. Approximately 300 NSN employees in Chicago and China will be asked to join NewNet. The companies expect the deal to close before Dec. 31.
The move can be seen as another blow to WiMAX, which loses the backing a major equipment maker.
"The addition of the WiMAX business would enhance the breadth of NewNet’s product portfolio, R&D capabilities, customer relationships and our overall market position in providing wireless infrastructure solutions to carriers on a global basis. We are thrilled at the prospect of welcoming a world-class group of WiMAX pioneers and thought leaders to the NewNet team,” Ron Pyles, president and CEO of NewNet, said in the news release. “NewNet recognizes there is enormous potential in providing outstanding products, support and services to operators who have already invested heavily in WiMAX technologies as well as those who will do so in the future. We are committed to serving the market with an industry leading roadmap and innovative product migration options.”