Motorola plans to sell its wireless network business to Nokia Siemens Networks for $1.2 billion, the Wall Street Journal has reported.
According to the Wall Street Journal, sources familiar with the matter have said that Motorola is expected to announce the deal with Nokia Siemens later this week.
The deal is expected to provide Nokia Siemens, a collaboration between Finnish mobile company Nokia and German electronics firm Siemens AG, with access to leading wireless network companies including Verizon, Sprint Nextel in the US and KDDI in Japan, helping it to increase its presence in markets worldwide.
Under the proposed agreement, Nokia Siemens Networks would take over Motorola’s entire wireless networking division.
Motorola’s wireless arm develops older technologies, including devices for wireless voice and video data transmission around the world and equipment for both CDMA and GSM technology.
The company is not set to include its “push to talk” technology in the deal.