Nokia to Buy Alcatel-Lucent, Mulling Options for HERE Maps
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Apr 15, 2015, 7:12 AM by Eric M. Zeman
Nokia today said it has agreed to acquire Alcatel-Lucent for $16.6 billion. The combined companies would be a giant in the telecom equipment space with more than 100,000 employees. The terms of the deal will see Nokia acquire all of Alcatel-Lucent's stock, as traded in both France and the U.S. The companies' boards of directors have approved the deal, though shareholders have yet to vote on the acquisition. The deal will also require regulatory approval. The companies expect the deal to close during the first half of 2016. Once combined, the companies will streamline redundant operations, but believe the 40,000 research and development at its disposal employees will be able to make the company a world leader in the connected IP space. Nokia-Alcatel-Lucent will specifically target the development of 5G wireless networks. The largest competitors remaining are Ericsson and Huawei, though ZTE, Samsung, and others make telecommunications equipment, too. In addition to announcing the Alcatel-Lucent deal, Nokia said it has begun a review of strategic options for its HERE Maps business. Nokia acquired Navteq's mapping business in 2007 and turned it into a competitive global company. Nokia's HERE Maps are available to the Android, iOS, and Windows Phone platforms, as well as online, and provide robust driving, walking, and transit directions. Nokia said its review of HERE Maps may or may not result in a transaction.
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More importantly Nokia will be back in the wireless hardware business