Nokia buys part of Panasonic's network unit
Nokia has been on the acquisition trail in recent weeks.
Finnish telecom equipment maker, Nokia Networks, says it is planning to buy part of Panasonic's telecoms network business to boost its operations in Japan.
The agreement covers Panasonic's mobile phone third generation wireless base station system business for mobile operators and related wireless equipment system business.
The value of the deal has not been disclosed. Nokia expects to complete the transaction by early 2015.
— Japan is a key market for us, and this agreement is a major milestone in forging closer ties in Japan, said Ashish Chowdhary, executive vice president for Asia, Middle East and Africa with Nokia Networks.
— The acquisition of part of Panasonic's wireless network business would further strengthen our mobile broadband portfolio and add significant value for Japanese operators.
Four weeks ago, Nokia announced it was acquiring US company SAC Wireless, a provider of infrastructure and network deployment solutions.