A week after announcing plans to cut 17,000 jobs as part of a restructuring, Nokia Siemens Networks said today that it was selling off the WiMAX assets it acquired from Motorola Solutions to NewNet, a privately held company with headquarters in Connecticut. NSN bought Motorola’s networking business in August for $1.2 billion, which included Motorola Solutions’ CDMA assets, reports RCR Wireless.
The NewNet deal, which is expected to close by the end of the year, includes all related assets, active customer and supplier contracts, and about 300 NSN employees. Many of the employees are based in Chicago and Hangzhou, China. Financial terms of the deal were not released.
Motorola, which had revenues of $22 billion last year, split into two separate companies; Motorola Mobility and Motorola Solutions, a land mobile radio and services company for enterprise and government customers.
Nokia Siemens Networks’ plan to solely focus on the mobile broadband market, using mostly LTE-based technologies. NSN recently was included in an announced trial of LTE services across London with Telefonica’s O2, as well as garnering a network upgrade contract in Finland from TeliaSonera.