Nokia said on Thursday it agreed to buy part of Panasonic Corporation’s telecoms network business to boost its operations in Japan, Reuters reported.
The deal covers Panasonic’s mobile phone wireless base station system business for operators and a related wireless equipment network, according to the report.
The Finnish firm did not disclose the value of the deal, which it expects to close at the start of next year.
The acquisition will “add significant value for Japanese operators,” Nokia Networks executive Ashish Chowdhary was quoted as saying in a statement.
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