ESPOO, Finland-Aerospace and defense company EADS announced it is in advanced negotiations to acquire Nokia Corp.’s Professional Mobile Radio business. Financial details of the negotiations were not disclosed.
“This move enhances EADS’ position in the global homeland security sector Together, Nokia’s TETRA and our TETRAPOL technologies create an excellent foundation for next-generation solutions for mission-critical communications,” said Stefan Zoller, chief executive officer of EADS’ defense and communications systems business. “We see a global market potential in this field, of over [$12.8 billion] within the next five years. By having the main technology platforms in our portfolio, we will be able to offer our customers innovative solutions and serve their evolving needs.”
EADS said the move would also give it the chance to expand into North America. The company said it expects to close the deal by the end of this year.
