DragonWave to buy Nokia Siemens' microwave transport business

DragonWave plans to acquire Nokia Siemens Networks' microwave transport business, including its associated operational support systems (OSS) and related support functions, the company announced today.  Under the terms of the "Master Acquisition Agreement" signed today, as well as acquiring the business, DragonWave would also become the preferred, strategic supplier to Nokia Siemens Networks of packet microwave and related products, and the companies would jointly coordinate technology development activities.  As part of the proposed acquisition, the companies expect approximately 360 Nokia Siemens Networks employees, mainly based in Milan, Italy and Shanghai to transfer to DragonWave. The companies will shortly enter into consultation regarding the proposed acquisition with employees and employee representatives in accordance with applicable law provisions and relevant timelines. Following the proposed acquisition, Nokia Siemens Networks would retain responsibility for its existing solution sales and associated services for microwave transport, while DragonWave would be responsible for the product line, including R&D, product management and operations functions. "Through this strategic relationship, customers would continue to receive high-quality services and sales support from Nokia Siemens Networks, while DragonWave's best of breed products would ensure they have access to industry leading technology," said Marc Rouanne, head of Network Systems, Nokia Siemens Networks. The planned transaction is subject to any applicable regulatory, exchange and third party approvals, a consultation process with trade union representatives and other customary terms and conditions.