The telecommunication hallmark Nokia has finally decided to buy shares of Alcatel-Lucent and it has to pay EUR15.6 billion (USD16.5 billion) to Alcatel Lucent. Nokia has also announced to that it is looking to sell its digital mapping division, Here.
Nokia Buys Shares of Alcatel Lucent for $16.5 Billion
There is no doubt that both these companies have highly harmonized portfolios and geographies, with particular strength in the United States, China, Europe and Asia-Pacific. The future is bright in terms of fixed and mobile broadband, IP routing, core networks, cloud applications and services as Nokia and Alcatel-Lucent has vast experience of services.
Rajeev Suri, President and Chief Executive Officer of Nokia, said:
“Together, Alcatel-Lucent and Nokia intend to lead in next-generation network technology and services, with the scope to create seamless connectivity for people and things wherever they are.”
Nokia and Alcatel-Lucent Board of Directors have agreed on the terms of the planned transaction, which will expire in 2016. Alcatel-Lucent is a french global telecommunication company having equipments related to telecommunication. The company have a very well know name in international market and its a great opportunity for Nokia to comeback.
Its right time for Nokia to reemerge in the market after a hibernation period, as very recently the company has lost its smartphone market.