Nokia Siemens closes delayed Motorola deal

By @ibtimes on

Mobile telecom gear venture Nokia Siemens Networks closed its $975 million acquisition of Motorola Solutions' mobile gear unit on Friday, four months behind the original schedule

NSN hopes the deal gives it better access to the booming North American market and strengthens it against its key Chinese rivals and make it the second-largest mobile telecom gear maker ahead of China's Huawei. Last week Nokia Siemens -- a 50:50 venture of Nokia and Siemens -- said Chinese regulators approved the acquisition after a lengthy review, clearing the last major hurdle for the deal to go through.

On April 13, Motorola had cut the sale price to $975 million from $1.2 billion to ensure the deal goes through.

(Reporting by Tarmo Virki)

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