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Electronics Production | November 30, 2010

Renesas closes acquisition of Nokia's wireless unit

Renesas Electronics Corp has finalized a transaction worth 153.7 million in a takeover of the wireless modem unit of Finnish mobile phone manufacturer Nokia.

The deal is part of a strategic alliance between the two sides to develop modem technologies. Renesas acquired Nokia's wireless modem technologies for LTE, HSPA and GSM standards, which employ nearly 1,100. The transaction is anticipated to help Renesas enhance its presence on the chipset market.
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