Renesas Electronics to Acquire Wireless Modem Business of Nokia

NokiaThe premier supplier of advanced semiconductor solutions, Renesas Electronics Corporation and the world leader in mobile communications, Nokia Corporation, announced that they are forming a strategic business alliance where the two companies have entered an agreement whereby the Wireless Modem Business of Nokia will be acquired by Renesas Electronics for 200 million USD in order to develop modem technologies for Evolved High-Speed Packet Access and Long-Term Evolution.

The alliance will be enhanced by long term joint research cooperation on future radio technologies.

All of these events will enable Renesas Electronics to maximize the value of the Nokia Technology assets and to deliver a complete mobile platform solution to the market. They will also strengthen their position as one of the leading chipset vendors in the LTE and 3G market.

“The agreement with Nokia demonstrates our long-standing commitment to shape the future of advanced mobile platforms and will serve as an important step for us to become a leading mobile platform vendor in the global market. Our collaboration with Nokia will enable consumers to enjoy true mobile cloud computing experiences through our advanced high-speed mobile devices,” said Yasushi Akao, President of Renesas Electronics Corporation. “In line with our ongoing efforts to strengthen our business structure, the transferring wireless modem technology and the innovation power and expertise of Nokia’s employees will perfectly complement our core competences and serve as the key driving forces in growing our mobile business in the global market.”

“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.

Related posts

Turtle Beach debuts the Elite Pro gaming headset

Turtle Beach debuts the Elite Pro gaming headset

The company Turtle Beach, known in the past for making high-end PC multimedia peripheral devices, has officially announced the new Elite Pro gaming headset. The device is, however, not another gaming headset due to a simple reason – the Elite Pro comes with the so-called Aerofit Ear Cushions...

Lenovo and NEC teaming up for Japans's Largest PC Group

Lenovo and NEC today announced a strategic partnership which aims to create the largest PC group in Japan, which is the third largest PC market in the world. Under the new agreement both companies will join their market reputation, development capabilities, marketing and distribution to provide...

Asus announced O!Play Series digital media player line

ASUS, the leading provider of intelligent and innovative home theater PC solutions, announced today the first member of its new O!Play Series digital media player line: the O!Play HDP-R1 HD Media Player. Aimed at providing stunning 1080p Full High Definition entertainment across a wide variety...

Leave a comment