Acquisition of Nokia’s modem business completed

Nokia and Renesas Electronics Corporation today announced the completion of Renesas Electronics’ acquisition of Nokia’s Wireless Modem business, which was initially announced on July 6, 2010. With this transfer, Renesas Electronics assumes full ownership of the Wireless Modem unit, which has been responsible for development of Nokia’s wireless modem technologies for LTE, HSPA and GSM standards. As a result of the transaction, approximately 1 100 employees transfer from Nokia to Renesas Electronics.

Renesas Electronics Corporation, the world’s number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad range of analog and power devices.