The acquisition includes the transfer of fixed assets, employees and relevant contracts from Panasonic to Nokia Networks. It also includes Panasonic’s mobile phone wireless base station system business for mobile operators and related wireless equipment system business.
The move is said to enhance Nokia Networks’ operations in Japan, a key market for the vendor.
“With this acquisition, Nokia Networks will single-handedly contribute towards the domestic and overseas business of Japan’s operators, and also benefit from synergies in terms of efficient product operations and focussed R&D efforts,” said Ashish Chowdhary, chief business officer at Nokia Networks.
The deal was first announced in July 2014.
