Nokia has completed the acquisition of Nokia Siemens Networks, eliminating Siemens' stake in the then joint-venture. Nokia now owns the company and has altered the branding to Nokia Solutions and Networks (NSN - www.nsn.com). As well as the name alteration, there have been a handful of changes on the board of directors, but NSN will continue to operate with and be consolidated by Nokia. The price? A previous Nokia statement reported it as 1.7 billion euros.
NSN (or Nokia Siemens Networks as it was known back then) turned profitable and was covered in a previous financial report, but Siemens wanted to sell its stake in the venture while Nokia aimed to continue operations. Now that the purchase has been completed, Rajeev Suri will continue as CEO and Jesper Ovesen will remain as Executive Chairman of the NSN board of directors, which has been altered with Siemens-appointed directors resigning.
Nokia will continue to innovate and remain at the forefront of each generation of mobile technology. It'll be interesting to see how the company takes NSN and improves on its offered services to better serve and integrate into the competitive industry.
Check out the press release for more information.
