Mergers and Acquistions News
Categories: Telecoms
January 7th 2011, 17:11PM
Nokia Siemens Networks (NSN) has completed its acquisition of IRIS Telecom, the Istanbul, Turkey-headquartered telecom and engineering services firm. NSN did not say how much the deal was worth.
The firm sees the buy as strengthening its presence across Turkey and the Eastern Europe and Central Asian markets.
Founded in 1999, IRIS provides network and optimisation services to telecoms operators and equipment retailers across these regions, plus the Middle East and Africa.
Under the terms of the deal, IRIS will function as a separate firm and retain its head office in Istanbul. Mete Gokdemir, a co-founder of the firm, will continue in his role as chief executive officer, while Johan Bruce, also a co-founder, will assume a new post as executive director.
Meanwhile, NSN's announced acquisition of a chunk of Motorola's public carrier wireless network assets looks set to complete early this year. It was originally set to complete by the end of last year, but the failure to so far gain approval from China's anti-monopoly bureau has delayed the process.
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