Adtran to acquire NSN fixed line broadband division

Global provider of networking and communications equipment ADTRAN (Nasdaq: ADTN) is buying Nokia Siemens Networks' fixed line and broadband access business unit.

The financial details of the deal--which is the first move NSN has made since last month announcing plans to sell parts of its money-losing business--weren't released. Adtran said some 400 NSN employees, including engineering, R&D, sales and professional services employees, are expected to transfer to Adtran globally. The deal is expected to close in the second quarter of next year.

Adtran said NSN's "long standing customer relationships, combined with Adtran's long-term focus and financial strength, make this a very favorable outcome for customers, employees and shareholders."

The company said the deal will enable it to deliver a full portfolio of solutions to meet customer needs on a global scale.

"Service providers around the world are seeing high bandwidth services as an integral component of their future opportunities," said Adtran CEO Tom Stanton. "This strategic acquisition would position Adtran in key markets with an established customer base; complementary market-focused products; along with engineering, R&D, sales and professional services resources that will enable Adtran to take a significant step forward as one of the world's leading communications solutions providers."

For more:
- see this release
- see this Reuters article

Related articles:
Adtran UC deployed at University of North Alabama
Hershey Telephone to deploy Adtran's GPON gear
Adtran plots new growth in Tier 2-3 telcos, international markets