Nokia’s Network arm is set to buy Eden Rock Communications, a U.S. based company in order to strengthen its telecom equipment business as the former believes, Eden’s products render automation, performance improvements and reliability to mobile broadband networks.
The declaration of this acquisition was made by Nokia on Wednesday.
The Finnish company did not unveil the value of the deal but maintained that transaction would most likely be concreted by the third quarter of this year, reports Reuters.
Last month, a rumour was spread regarding Nokia’s re-entry into the mobile phone making business, to which the company responded saying, “Nokia notes recent news reports claiming the company communicated an intention to manufacture consumer handsets out of a R&D facility in China. These reports are false”.
However, the company itself declared that it is looking into returning to the smartphones business by brand-licensing.Category Business