Renesas Electronics' Acquisition of Nokia's Wireless Modem Business Completed

30 Nov 2010

Espoo, Finland and Tokyo, Japan, November 30, 2010 — Nokia and Renesas Electronics Corporation today announced the completion of Renesas Electronics' acquisition of Nokia's Wireless Modem business, which was initially announced on July 6, 2010. With this transfer, Renesas Electronics assumes full ownership of the Wireless Modem unit, which has been responsible for development of Nokia's wireless modem technologies for LTE, HSPA and GSM standards. As a result of the transaction, approximately 1,100 employees transfer from Nokia to Renesas Electronics.

 

About Nokia

At Nokia, we are committed to connecting people. We combine advanced technology with personalized services that enable people to stay close to what matters to them. Every day, more than 1.3 billion people connect to one another with a Nokia device — from mobile phones to advanced smartphones and high-performance mobile computers. Today, Nokia is integrating its devices with innovative services through Ovi ( www.ovi.com ), including music, maps, apps, email and more. Nokia's NAVTEQ is a leader in comprehensive digital mapping and navigation services, while Nokia Siemens Networks provides equipment, services and solutions for communications networks globally.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.


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