ADTRAN Holdings acquired Nokia Siemens Networks Fixed Line Broadband Access business, a transaction completed in May 2012, structured as Asset sale and purchase agreement.
Nokia Siemens Networks Fixed Line Broadband Access business operates in Fiber broadband access / networking, is based in Global (Europe-centric carrier base). ADTRAN acquired Nokia Siemens Networks' fixed-line Broadband Access (BBA) business, including its broadband access intellectual property, technologies, established customer base and associated professional services and network-management solutions. Up to roughly 400 engineering, R&D, sales and professional-services employees were expected to transfer to ADTRAN globally.
Positioned ADTRAN in key international markets with an established customer base and complementary market-focused products, advancing its global growth strategy as service providers scaled high-bandwidth services.
Established international carrier relationships and complementary broadband access products that accelerated ADTRAN's move beyond its North American base. ADTRAN completed the acquisition on May 6, 2012.
Nokia Siemens Networks' long standing customer relationships, combined with ADTRAN's long term focus and financial strength, make this a very favorable outcome for customers, employees and shareholders.Tom Stanton, ADTRAN CEO
We believe that this planned divestment would provide our existing fixed broadband access customers with a continuous high-quality service from a company focused on their needs.Marc Rouanne, head of Mobile Broadband at Nokia Siemens Networks
Advisory firms were not disclosed for this transaction.