Nokia Siemens Buys Motorola Network

Nokia Siemens Networks says it will acquire the majority of Motorola’s wireless operations in a $1.2 billion deal.

The company says the deal is “expected to significantly strengthen Nokia Siemens Networks’ presence globally, particularly in the United States and Japan.”

The deal was expected to be completed by the end of 2010.

Nokia Siemens Networks, a joint venture between Finland’s Nokia Corp. and Siemens AG of Germany, said the deal would improve its profitability and “have significant upside potential.”

HELSINKI (AP)