Renesas To Acquire Nokia's Wireless Modem Business

Espoo, Finland and Tokyo, Japan: A strategic alliance formed between Renesas Electronics and Nokia will concentrate on developing HSPA+/LTE (Evolved High-Speed Packet Access/Long Term Evolution) modem-related technologies. As part of this agreement, Renesas Electronics will acquire Nokia's wireless modem business for approximately $200 million. The alliance will include long-term joint research cooperation on future radio technologies.

The wireless modem business includes Nokia's wireless modem technologies for LTE, HSPA, and GSM standards. Nokia will also transfer some undisclosed patents to Renesas. In addition, the planned transfer would involve approximately 1100 Nokia R&D professionals, the vast majority of whom are located in Finland, India, the UK and Denmark.

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