Siemens and Nokia Merger
OK. This took me by suprised. Why on earth would Nokia want to dig into the inventory of Siemens when they are making tons of money with their own phones. Diversification and brain picking of the Siemens brain power is probably a good deduction. Anyway, this merger is a massive USD 31 billion deal and I think some heads are gonna roll this time. That’s not good news for their staff as they might want to cut out duplication.
Nokia and Siemens AG have agreed to combine their telephone equipment units in a deal valued at roughly 25 billion euros ($31.6 billion), according to a newspaper report. Ownership of the new company would be split evenly between Nokia and Siemens, and would be headed by a Nokia executive, Simon Beresford-Wylie, according to the report. The combination would allow both companies to reduce redundant research and development spending, with savings as high as 1.25 billion euros ($1.58 billion) annually, according to the report.
Siemens and Nokia Merger source
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POSTED IN: Announcements, Cellphones, Wireless
1 opinion for Siemens and Nokia Merger
neb
Jul 4, 2006 at 9:07 am
Well, I work for Siemens, Boca Raton. All I have to say is…yikes!…I have weathered many lay offs in recent time…but some how I don’t see this being good for the US market.
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