DragonWave and Nokia Siemens Networks amend divestment agreement

Nokia Siemens Networks announced that it has reached an amended agreement for DragonWave’s acquisition of Nokia Siemens Networks’ microwave transport business including its associated operational support system (OSS) and related support functions. As part of the amended agreement the planned closing date is June 1, 2012, subject to closing conditions.

Under the terms of the amended agreement, the Nokia Siemens Networks microwave transport assets in Italy, including its employees, will not transfer to DragonWave.

The new arrangements reached by the parties envisage the supply of certain services by Nokia Siemens Networks to DragonWave, through a service agreement, under which R&D, product management and sales support services will be provided to DragonWave in order to enhance the ability of the latter to continue to deliver on critical customer deliveries.

The acquisition of the business in China is expected to be formally completed in the second half of 2012, once all of the licenses and permissions to do so are in place. Employees of Nokia Siemens Networks based in Shanghai would transfer to DragonWave at that time.

Under the terms of the amended agreement, DragonWave becomes the preferred strategic supplier of packet microwave and related products to Nokia Siemens Networks and the two companies are to jointly coordinate technology development activities.

About Nokia Siemens Networks

Nokia Siemens Networks is the world’s specialist in mobile broadband. From the first ever call on GSM, to the first call on LTE, we operate at the forefront of each generation of mobile technology. Our global experts invent the new capabilities our customers need in their networks. We provide the world’s most efficient mobile networks, the intelligence to maximize the value of those networks, and the services to make it all work seamlessly.

With headquarters in Espoo, Finland, we operate in over 150 countries and had net sales of over 14 billion euros in 2011. http://www.nokiasiemensnetworks.com.