European Communications

Last update12:32:11 PM

CN Tetragen and NSN agree Expedience deal

Technology holding CN Tetragen has agreed a deal to buy a key broadband business from Nokia Siemens Networks.

The Spanish communications firm revealed it has acquired Expedience, a fixed-wireless broadband operation, which will be operated by a new company it has created called Nexpedience Networks.

Kiriako Vergos, chairman and chief executive of CN Tetragen, said: "With this acquisition, we are in a good position to ensure continuity for the manufacturing of the Expedience technology while developing a solid road map for its future. We are extremely committed to achieving this."

The agreement reached with Nokia Siemens Networks means that CN Tetragen has secured the entire Expedience portfolio and its assets, including contracts with suppliers and customers.

Stephan Scholz, head of divestment projects for network systems at Nokia Siemens Networks, also welcomed the deal, saying it fits with his company's strategy and should help to provide a better customer experience.

"We believe our customers will benefit from the greater focus, scale and concentration on Expedience that CN Tetragen can offer," he said.