Renesas Buys Nokia Wireless Modem Biz For $200M

Law360, New York (July 6, 2010, 6:07 PM EDT) -- Nokia Corp. has agreed to sell off its wireless modem business to semiconductor company Renesas Electronics Corp. for $200 million, a move Nokia called a strategic business alliance to further long-term joint research cooperation on future radio technologies.

The two firms are “deepening their collaboration” to develop modem technologies for evolved high-speed packet access and long-term evolution platforms, the companies jointly announced Tuesday.

“The agreement with Nokia demonstrates our long-standing commitment to shape the future of advanced mobile platforms and will serve as an important step...
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