TechTaffy

tech:

taffy

Nokia Siemens Sells Off Optical Networks Business

By TechTaffy Desk

[Techtaffy Newsdesk]

Nokia Siemens Networks and Marlin Equity Partners have reached an agreement for Nokia Siemens Networks to sell its Optical Networks business unit to Marlin Equity Partners.

Rajeev Suri (CEO, Nokia Siemens Networks): Our strategic focus on our core markets has enabled us to concentrate our energy and investment in areas such as LTE.

The deal will establish the division as an independent company. The new optical company will be headquartered in Munich, Germany with operations around the world and will be led by its existing management team with Herbert Merz nominated as chief executive officer.

As a result of the transaction, up to 1,900 employees – mainly in Germany, Portugal and China – from the optical business unit and related functions are expected to transfer to the new company in line with applicable local legal requirements. Related existing customer contracts are also planned to be transferred.

The transaction is expected to close in the first quarter of 2013.

 

 

Just in

IT

Cloudflare acquires Baselime

Cloudflare has acquired Baselime, a cloud-native observability platform provider. Financial terms of the deal were not disclosed.
Fundings

Blaize raises $106M

El Dorado Hills, CA-based AI computing company Blaize has raised $106 million.
Fundings

Rivos raises $250M

Santa Clara, Calif.-based Rivos, a RISC-V accelerated platform company focusing on data analytics and Generative AI, has raised $250 million in its Series A-3 funding round
Industry

IBM, Canada, and Quebec invest $137M to strengthen semiconductor industry

IBM, the Government of Canada, and the Government of Quebec announced agreements to develop the assembly, testing and packaging capabilities for semiconductor modules at IBM Canada's plant in Bromont, Quebec.
Around the web

Net neutrality is back: U.S. promises fast, safe and reliable internet for all — NPR

Consumers can look forward to faster, safer and more reliable internet connections under the promises of newly reinstated government regulations, writes Emma Bowman of NPR.