ESPOO, Finland-Nokia Corp. announced it will acquire Ipsilon Networking Inc., a company that develops open Internet Protocol routing platforms, in a $120 million transaction.
Nokia has held a minority interest in Ipsilon since June.
“Wireless and data communications are clearly the key drivers as telecommunications markets become more open and increasingly global,” said Matti Alahuhta, president of Nokia Telecommunications. “Adding Ipsilon’s highly regarded IP capabilities to Nokia’s established network expertise is an important step for us in further developing our competitiveness in IP networks.”
The acquisition is subject to regulatory approval, expected by the end of the year, said Nokia.
