Telecom network vendor Nokia Networks today said it has completed the acquisition of a part of the wireless network business of Panasonic System Networks (PSN) in Japan.

Nokia Networks announced the deal on July 31, 2014 to transfer fixed assets, employees and contracts from Panasonic to Nokia Networks.

Nokia Networks did not share financial details.

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The strategic deal includes Panasonic’s mobile phone wireless base station system business for telecom operators and related wireless equipment system business.

The strategy of Nokia Networks is to enhance its existing mobile broadband capabilities, improve efficiency and quality control for product development and R&D, as well as strengthen its market share for base station systems and related wireless equipment in Japan.

Nokia Networks will gain from Panasonic’s LTE / 3G wireless base station system business, related wireless equipment system business, fixed assets and business contracts with Panasonic’s customers get transferred to Nokia Networks Japan and more than 300 Panasonic employees involved in the transferring business.

“The acquisition provides us with the opportunity to tap the potential of the Carrier Mobile System market – a key focus area for our business in Japan,” said Ashish Chowdhary, chief business officer, Nokia Networks.

Baburajan K
[email protected]