Boston, MA 08/26/2014 (wallstreetpr) – Nokia Corporation (ADR) (NYSE:NOK) announced yesterday that it finally tabled the completion papers of acquiring SAC Wireless, the U.S. based company. Finnish Telecom Company, in the meanwhile, also announced that after this acquisition, there is an expectation of clear revenue synergies.
Details of the Deal
The acquisition of SAC Wireless by Nokia allowed transferring of 500 employees of the former to latter.
The exact value and financial details of the transaction have not been disclosed.
As per the terms and conditions of the deal, SAC Wireless shall be operating as the wholly-owned subsidiary of Nokia.
Benefits of the Deal to Nokia
The acquisition of Schaumburg, Illinois-based SAC Wireless will enable Nokia Corporation (ADR) (NYSE:NOK) in building its network in a stronger way by imparting more strength to present network implementation service abilities of the company.
With this deal, Nokia is expecting an increase of its market in this segment.
Statement from the Executives
The executive vice president for North America region, Nokia Networks, Ricky Corker said that the company is moving in line with the trend which most of the operators are following today. He added that a lot of operators are taking a transition of services from sub-contraction of network implementation services towards direct service provider, based on the self-perform model.
Commenting about SAC Wireless, Mr. Corker said that SAC can do the aforementioned things in a great way. He added that Nokia’s in-house expertise is complemented with the capabilities of SAC, which does not just offer proven track record, but also brings forth the national footprint.
Nokia Corporation (ADR) (NYSE:NOK), which is looking forward towards a stronger market base in the U.S., said that acquisition of SAC shall enable the company to go for stronger foundation in service business of the country, while at the same time, help in addressing the market opportunity for bringing increased efficiency to the customers.
