Nokia Siemens Networks and Juniper Networks Inc said on Thursday they plan to create a joint venture aimed at the carrier Ethernet market, one of the remaining growth pockets in the shrinking telecommunications equipment market.
The companies said the venture will be headquartered in the Netherlands and extend their previous partnership. No other details were immediately available.
This planned structure will allow both companies to contribute the necessary products and support to enable meeting the end-to-end portfolio needs of some 200 joint service provider customers worldwide, the companies said in a joint statement.
They hope to benefit from the wider reach when battling with Cisco Systems Inc, Alcatel-Lucent and Ericsson in the $8 billion market for carrier Ethernet equipment.
The carrier Ethernet market's growth is expected to slow drastically from the 20 percent or more levels seen in recent years, but it is still expected to grow, while the overall telecom gear market is shrinking.
(Reporting by Tarmo Virki; Editing by Andre Grenon)