Nokia Siemens Networks (NSN) has agreed to sell its Expedience proprietary fixed wireless broadband business to Spanish broadband wireless access technology company CN Tetragen.
CN Tetragen has acquired Expedience assets and active customer and supplier contracts and has set up Nexpedience Networks to operate the acquired assets. The Spanish company said it has in-depth knowledge of the Expedience portfolio and “recognizes an opportunity to provide outstanding products and services to the operators who have invested in the technology.”
“With this acquisition, we are in a good position to ensure continuity for the manufacturing of the Expedience technology while developing a solid roadmap for its future,” said CN Tetragen chairman and CEO Kiriako Vergos.
NSN’s head of divestment projects Stephan Sholz said customers will benefit from the “greater focus, scale and concentration” that CNT Tetragen can bring to Expedience.
Last year, NSN announced a significant business restructure that involved cutting 17,000 jobs worldwide and will see it focus on mobile broadband. NSN CEO Rajeev Suri outlined his vision for the company to become the world’s mobile broadband specialist at Mobile World Congress in Barcelona last week.
Since the restructure was announced in November, NSN has sold a number of its non-mobile broadband units, including its fixed line broadband access, microwave transport and Wi-Max businesses. It also secured a EUR1.3 billion loan to cover the business restructure and redundancy programme.