Nokia and Renesas Electronics Corporation today announced the completion of Renesas’ acquisition of Nokia’s Wireless Modem business, which was initially announced on July 6, 2010. Renesas now assumes full ownership of the Wireless Modem unit, which has been responsible for development of Nokia’s wireless modem technologies for LTE, HSPA and GSM standards. Approximately 1,100 employees will transfer from Nokia to Renesas Electronics.