Nokia Siemens searching for buyers for remaining wireline units

Nokia Siemens Networks continues to hint at that it may be soon selling more of its wireline assets to willing buyers as it realigns its focus on becoming a wireless-centric vendor.

Rajeev Suri, Nokia Siemens Networks


During Mobile World Congress, the wireless industry's flagship tradeshow, NSN CEO Rajeev Suri told Bloomberg that it plans to shed more elements of its company following the sale of three units in 2011.

"We are already negotiating with buyers to sell some assets," Suri said. "We are taking other assets into maintenance mode, shifting investments out into other segments."

Suri added that the assets that will be put up for sale are will be its "perfect voice" VoIP unit, carrier Ethernet (formerly Atrica Networks), wireline narrowband and business support systems.

At the end of 2011, the vendor previously made three key deals, selling its microwave division to Dragonwave, its WiMAX business to SkyView's NewNet Technologies, and its wireline broadband access unit to ADTRAN (Nasdaq: ADTN).  

These pending sales are part of an overarching strategy the vendor announced in November to cut $1.3 billion in annual costs from its budget. In addition to shedding assets, the vendor said it would lay off 17,000 employees, or 23 percent of its workforce, over the next two years.

For more:
- Bloomberg has this article

Special report: The most important M&As of 2011

Related articles:
ADTRAN snaps up Nokia Siemens Networks' wireline broadband access unit
NSN sells WiMAX biz to Skyview's NewNet
Nokia Siemens Networks to shed 17,000 employees, exit segments outside mobile broadband
NSN gets $1.36B cash infusion from Nokia and Siemens, appoints new executive chairman