Contract finalized between GIMV and Nokia Siemens Networks for sale of OTN (Open Transport Network) business. Sale finalized and Open Transport Network start as an independent business as of July 1, 2008.
Herentals, Belgium, July 1, 2008 (PRESSbooth.ORG) -- Nokia Siemens Networks, one of the worlds foremost global enablers of communications services, and GIMV, the leading Belgian investment company specialising in private equity and venture capital, have concluded the asset sale and transfer agreement pertaining to Nokia Siemens Networks' entire Open Transport Network (OTN) team. The transfer has been approved and has undergone approval with the works council according to local legal practice and final agreement has been signed by both companies.
As of July 1, the Nokia Siemens Networks OTN team of approximately 80 people, will officially transfer to a newly formed company named OTN Systems N.V. with registered offices at Atealaan 34, 2200 Herentals, Belgium . OTN Systems N.V. is owned in majority by GIMV. This includes key functions in R&D, Manufacturing, Sales, Technical Support, Finance as well as Product and Program Management. In addition, Nokia Siemens Networks would continue to sell OTN products through direct channels and open up its Value Added Reseller network to OTN.
"I would like to thank OTN employees for the work that they have done for our company. The proven expertise and market success is a solid foundation for their future success. This expertise convinced GIMV to take the OTN business further to build and expanding on your strengths," said Karl Friedrich, Head of Business Line Next Gen Metro, Nokia Siemens Networks. "I would like to wish OTN Systems N.V. and GIMV the best of success for this new endeavour."
About Nokia Siemens Networks:
Nokia Siemens Networks is a leading global enabler of communications services. The company provides a complete, well-balanced product portfolio of mobile and fixed network infrastructure solutions and addresses the growing demand for services with 20,000 service professionals worldwide. Nokia Siemens Networks is one of the largest telecommunications infrastructure companies with operations in 150 countries. The company is headquartered in Espoo, Finland.
www.nokiasiemensnetworks.com
About GIMV:
Since its incorporation in 1980 GIMV has grown into Belgium's most important private equity and venture capital provider. GIMV is also a major European and international market player. Both in Belgium and abroad, GIMV invests in information and communication technology, life sciences and cleantech as well as in growth financing and management buy-outs (MBOs) of companies in more traditional sectors. In the Benelux region the company also targets infrastructure and PPP projects. GIMV currently manages around EUR 2.0 billion of assets (including third party funds). GIMV has been listed on Euronext Brussels since 1997. For more information on GIMV, please go to www.gimv.com.
Contact:
Nokia Siemens Networks
Stefan Zuber
Head of Communications CMO Regions
Phone: +491608080600
E-mail: stefan.zuber @ nsn.com
GIMV
Bart Diels
Investment Director
Phone: +3232902155
E-mail: bartd @ gimv.be
Frank De Leenheer
Investor Relations & Corporate Communications Manager
Phone: +3232902218
E-mail: frankdl @ gimv.be
Nokia Siemens Networks
Media Relations
PO Box 1
FI-02022 Nokia Siemens Networks
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