Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Nokia and Siemens to Merge Communications Service Provider
Posted on 19-Jun-2006 22:21 | Tags Filed under: News



Nokia and Siemens intend to merge the Networks Business Group of Nokia and the carrier-related operations of Siemens into a new company, to be called Nokia Siemens Networks.

The 50-50 joint venture will create a global leader with strong positions in important growth segments of fixed and mobile network infrastructure and services.

The new company is said to have a world-class fixed-mobile convergence capability, a complementary global base of customers, a deep presence in both developed and emerging markets, and one of the industry's largest and most experienced service organization, according to Siemens in a statement issued to the press today.

The transaction closing is expected to take place before 1 January 2007 and is subject to customary regulatory approvals, the completion of standard closing conditions, and the agreement of a number of implementation steps.

Simon Beresford-Wylie, currently Executive Vice President and General Manager of Networks at Nokia, will assume the position of CEO of the new company. Peter Schoenhofer. currently Member of the Executive Board of Siemens AG Austria will assume the position of CFO

Based on the 2005 calendar year, the combined company had EUR 15.8 billion in pro forma annual revenues and is expected to start operations with 60,000 employees.

Nokia Siemens Networks will have its operational headquarters in the metropolitan area of Helsinki, Finland, and will have a strong regional headquarters in Munich, Germany, where three of the future five divisions of the new company will be based.

The remaining Wireless Modules business will be integrated into the Siemens group Automation and Drives as of 1 October 2006.








comments powered by Disqus


Trending now »

Hot discussions in our forums right now:

Bombing at Manchester concert, 19 dead
Created by Rikkitic, last reply by elpenguino on 25-May-2017 21:47 (117 replies)
Pages... 6 7 8


Tipping? Please no!
Created by BlueShift, last reply by Wiggum on 25-May-2017 22:12 (97 replies)
Pages... 5 6 7


Father banned from watching daughter's netball game: what you think of this?
Created by Rikkitic, last reply by frankv on 25-May-2017 16:29 (136 replies)
Pages... 8 9 10


Tailgaters?
Created by Linuxluver, last reply by reg52nz on 25-May-2017 16:29 (113 replies)
Pages... 6 7 8


The President Of The USA: Donald Trump
Created by TimA, last reply by kingdragonfly on 23-May-2017 07:44 (4357 replies)
Pages... 289 290 291


Variable speeds on Fibre Max
Created by kapitikarl, last reply by pandazzz on 25-May-2017 21:03 (38 replies)
Pages... 2 3


PBtech 24 year sale - credit where its due
Created by TeaLeaf, last reply by rb99 on 25-May-2017 21:46 (16 replies)
Pages... 2


Post your Linux Desktop screenshot
Created by MikeB4, last reply by timmmay on 25-May-2017 20:57 (16 replies)
Pages... 2