US-based telecom infrastructure company Adtran today said it plans to acquire fixed line broadband access business of Nokia Siemens Networks (NSN).
The planned acquisition, through an asset sale and purchase agreement, would include the broadband access, intellectual properties, technologies and the established customer base, both the companies said in a joint statement.
Up to 400 people, including engineering, research and development, sales and professional services employees, are expected to be transferred to Adtran globally, it added.
The transaction is expected to close by the end of April, after the completion of a consultation process with certain employees and their representatives, finalisation of transition services agreements and closing conditions.
Adtran CEO Mr Tom Stanton said, “With this planned acquisition, Adtran will combine its success with the strength of Nokia Siemens Networks’ Broadband Access business 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.”
He added that this strategic acquisition would position Adtran in key markets with an established customer base, complementary market-focused products along with professional services resources.
“The planned sale is in line with our new strategy to increase our focus on the mobile broadband and services market.” Mr Marc Rouanne, head of Mobile Broadband NSN said.