Skyview Capital Scoops Up Nokia Siemens Networks Unit

Law360, New York (November 29, 2011, 6:37 PM EST) -- Nokia Siemens Networks BV, the telecommunications joint venture embarking on a restructuring that includes 17,000 job cuts, plans to sell an Internet service technology unit to Skyview Capital LLC, a private equity firm that buys businesses "orphaned" by their corporate parents, NSN said Tuesday.

Beverly Hills, Calif.-based Skyview Capital's portfolio company NewNet Communication Technologies LLC will make the purchase and will take in about 300 NSN workers based in Chicago and in Hangzhou, China, the seller said without disclosing the price.

The deal is slated to...
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