Nokia Siemens Networks (NSN) has announced it has agreed to sell its WiMAX business to NewNet Communication Technologies, a provider of solutions for next generation mobile and fixed line networks owned by US investment firm Skyview Capital. Under the terms of the agreement, NewNet will acquire the complete WiMAX product portfolio, the related employees and assets, as well as active customer and supplier contracts. ‘The addition of the WiMAX business would enhance the breadth of NewNet’s product portfolio, R&D capabilities, customer relationships and our overall market position in providing wireless infrastructure solutions to carriers on a global basis. We are thrilled at the prospect of welcoming a world-class group of WiMAX pioneers and thought leaders to the NewNet team,’ commented Ron Pyles, president and CEO of NewNet, adding: ‘NewNet recognises there is enormous potential in providing outstanding products, support and services to operators who have already invested heavily in WiMAX technologies as well as those who will do so in the future. We are committed to serving the market with an industry leading roadmap and innovative product migration options.’ Specific terms of the transaction – which is expected to close before the end of the year – were not disclosed.