Nokia Siemens Networks to go live April 1

The infrastructure market will see another combined entity step onto the playing field April 1, the date Nokia Siemens Networks announced it will formally begin operations. Nokia Siemens Networks gets started just four months after the combination of Alcatel SA and Lucent Technologies Inc. launched its combined operations.
“In the consolidating telecommunications market Nokia Siemens Networks will offer customers cost-saving, leading-edge solutions that will also optimally meet their needs with regards to convergence,” said Nokia CEO Olli-Pekka Kallasvuo. Nokia’s Simon Beresford-Wylie will head the joint venture.
Nokia Corp. and Siemens AG will each contribute their respective carrier networks businesses and corresponding assets into the new company, and will each own half of the result. Nokia will contribute $2.2 billion to the effort while Siemens will plunk down $3.2 billion.
Nokia and Siemens had intended to launch their infrastructure joint venture earlier this year; however, Siemens’ recently accounting troubles forced a delay. Perhaps as a result, the joint venture announced that “Nokia Siemens Networks has zero tolerance for financial or other business misconduct and has also defined anti-corruption policies, principles and materials.”
Nokia said it will consolidate the financial results of Nokia Siemens Networks, thus, the joint venture will use Nokia’s financial system and practices.