By Telecom Lead Team: NewNet
Communication Technologies has completed the acquisition of the former Motorola
Solutions WiMAX business from Nokia Siemens Networks.
NewNet will be adding research and
development facilities in the U.K. and expanding its R&D teams in the U.S.
and India. Approximately 175 employees across the globe are transferring to
NewNet in this initial closing.
NewNet will be assuming the
responsibility for the research and development of the WiMAX product portfolio
and the support and services responsibility for a majority of the WiMAX
business customers.
NewNet will also add significant
service and support capabilities in Pakistan, Bahrain and the UAE. Hong Kong
and the countries of China, Malaysia and Taiwan are projected to close in
March. This later closing will result in the transfer of approximately 125 additional
employees to NewNet across R&D, sales, service and support functions.
“We have worked in close
co-operation with the Nokia Siemens Networks team to allow us to integrate the
WiMAX technology and product offering quickly and efficiently into NewNet so
that we can turn our attention to providing world class service and support to
our WiMAX customers,” said Ron Pyles, CEO and President of NewNet.
NewNet will invest in resources to
continue to enhance the WiMAX technology to a new level. NewNet sees many
opportunities to grow this business. Key areas of market opportunity include
mobile broadband, Smart Grid and public safety solutions.
“We are elated to have
completed the initial closing on this strategic acquisition, as it represents
yet another significant milestone in our razor sharp focus on building a global
market leader, within the telecommunications industry through NewNet
Communication Technologies,” said Alex Soltani, chairman and CEO of
Skyview Capital.
The acquisition brings a blue-chip
international customer base and a leading edge 4G-WiMAX technology providing an
exceptional platform for further growth, both organically and through
additional acquisitions.
The acquisition establishes NewNet
as the leading provider of end to end WiMAX products and services in the
marketplace. The acquisition also expands NewNet’s customer footprint across
the globe, with service and support responsibilities for 43 customers across 27
countries, and provides access to major emerging market regions that are anticipated
to experience substantial subscriber growth and mobile broadband usage.
