7/31/2014 7:55:00 AM
Nokia to buy part of Panasonic's mobile network arm
Finnish firm Nokia has announced that it will buy part of technology and solution provider Panasonic's network business. The move will boost the market share of its networks business, said the company, especially in Japan.
The deal relates to Panasonic's 3G and 4G mobile base station unit for operators and the related wireless equipment system.
The deal was recently reported by Nikkei newspaper in Japan and is expected to close in the spring.
Nokia and Panasonic have now entered a memorandum of understanding (MoU) on the deal.
The financial value of the mobile network agreement were not released.