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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.