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Nokia Siemens Networks transaction completed, division renamed to Nokia Solutions and Networks

NSN

Nokia has completed the acquisition of Nokia Siemens Networks, eliminating Siemens' stake in the then joint-venture. Nokia now owns the company and has altered the branding to Nokia Solutions and Networks (NSN - www.nsn.com). As well as the name alteration, there have been a handful of changes on the board of directors, but NSN will continue to operate with and be consolidated by Nokia. The price? A previous Nokia statement reported it as 1.7 billion euros.

NSN (or Nokia Siemens Networks as it was known back then) turned profitable and was covered in a previous financial report, but Siemens wanted to sell its stake in the venture while Nokia aimed to continue operations. Now that the purchase has been completed, Rajeev Suri will continue as CEO and Jesper Ovesen will remain as Executive Chairman of the NSN board of directors, which has been altered with Siemens-appointed directors resigning.

Nokia will continue to innovate and remain at the forefront of each generation of mobile technology. It'll be interesting to see how the company takes NSN and improves on its offered services to better serve and integrate into the competitive industry.

Check out the press release for more information.

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Comments

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miloadams says:

this is probably widely know / obvious, but what exactly is it that nsn does?

tissotti says:

It is world second largest network manufacturer and world leading LTE network manufacturer. It has 50% of Nokia's 100 000 workforce. 
Just like Ericsson, Nokia saw benefical as a father of GSM and its leading patent portfolio in that department to start building networks infrastructues rather than just only licensing its technology. Nokia Networks was merged with Siemens Networks I believe somewhere in 2007. 

miloadams says:

interesting. consistently impressed with some of the technology diversification behind Nokia.

PSRBF6 says:

First of all, it's Siemens we're talking about for goodness sake (that's enough to get excited).
Then Nokia also in the mix (and you know how well respected Nokia is).
This joint venture operation makes these companies world leaders and well known amongst the industry.

cotras says:

From smartphone user point of view, the most obvious example of their products is probably the base station, i.e. the equipment that receives/transmits the 2G/3G/LTE radio signal from/to your phone.

I hope this guves Nokia enough profits to get it on it's feet and get back raoring in the smartphone business. 

MrSimmix says:

That might take a while but it will definitely happen.

gsquared says:

"

this is probably widely know / obvious, but what exactly is it that nsn does?"

NSN works mostly with large carriers and other large organization/governments to provide infrastructue solutions. Its probably not widely know what they do but nonetheless very important. And potentially very profitable.
Considering what they paid for the remainng 50% this will put Nokia into a very good position going forward. Siemens let Nokia have the remaining 50% of the company for damm near pennies on the dollar. To me that shows how good of a company Siemens is. They could have sold out to KKR for much higher but that would have been a nightmare for Nokia.
If anyone doesn't know, KKR are a bunch of rat-bastard corporate raiders. They will come in and just srtip companies down to nothing.

blackprince says:

Nokia got the other 50% at a steal of a price, their eps at next quarter should be over the current $0.00.

biboyflip says:

A basic summary : NSN manufacture and sell telecom equipments to operators such as Telefonica, T-mobile, At&t etc. NSN is called a vendor while T-mobile and Att are called operators. There are lots of equipments involved just to have a "signal" in your phone so you can make a call or browse on your smartphone. Equipments such as, MME, RNC, BSC, MSS, MGW, HLR, NODEB, BTS, SGSN, GGSN etc.. All of those are part of NSN product portfolio.

Jazmac says:

Man, I hope Microsoft will be ready for all the software Nokia is going to need for this.