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.