NSN raises Euro 250 million debt; will acquire Nortel’s wireless technol ogy business (Finland)

NSN raises Euro 250 million debt; will acquire Nortel’s wireless technology business (Finland) Nokia Siemens Networks (NSN) has secured a Euro 250 million loan from the European Investment Bank for the development of its multi-mode radio access network technology. The funds will support NSN’s research and development (R&D) activities in Europe. The vendor’s European radio R&D is carried out in Finland, Germany, Poland and Italy.

Meanwhile, NSN has entered into an agreement with Nortel Networks to acquire the latter’s wireless technology business for $650 million. The deal is likely to be concluded by August 2009. The acquisition will enable NSN to become the second largest vendor in the CDMA market after Alcatel-Lucent.