Renesas Electronics and Nokia have entered into an agreement whereby Renesas Electronics is to acquire Nokia’s wireless modem business for approximately USD 200 million.
The wireless modem business to be transferred to Renesas Electronics includes Nokia’s wireless modem technologies for LTE, HSPA and GSM standards, which have been used for billions of handsets in the global market over the years.
Further, Nokia transfers Renesas Electronics certain patents related to the transferred technology asset. The planned transfer would also include approximately 1,100 Nokia R&D professionals, the vast majority of whom are located in Finland, India, the UK and Denmark.
“Wireless modems are an integral part of today’s chipset solutions, and we believe that Renesas Electronics, as one of the key chipset vendors in the market, is in an ideal position to further develop this offering. The alliance enables us to continue to focus on our own core businesses, connecting people to what matters to them with our mobile products and solutions,” says Kai Oistamo, Executive Vice President, Nokia.