Nokia Has Completed the Acquisition of Fenix Group
Nokia (
NOK) has completed the acquisition of Fenix Group, a privately held company specializing in tactical communications solutions for the defense communities yet the stock is down 2.53% on Thursday's market trading. The acquisition, announced in December 2023, strengthens Nokia's position in the defense sector by adding Fenix's broadband tactical communications products, such as the Banshee family and Talon MANET radios, to its existing solutions portfolio.
This expanded portfolio will allow Nokia (NOK) to offer a more comprehensive suite of 3GPP-based solutions to its defense customers worldwide. Interoperable, 3GPP-based mobile networks will play an important role in the digitalization of military communications. The acquisition, including the Committee on Foreign Investment in the United States (CFIUS) review and approval, marks a significant milestone in Nokia's U.S. strategy and underscores its commitment to being a trusted provider of secure and innovative solutions to the U.S. Federal government.
The combination of Nokia (NOK) and Fenix supports the objective of bringing dual-use technology capabilities to the warfighter. Mike Loomis, President of Nokia Federal Solutions, said the acquisition marks a significant step forward in Nokia's strategy to grow its defense business and overall U.S. strategy. Dave Peterson, CEO of Fenix Group, expressed excitement about joining forces with Nokia, stating that by combining their innovative solutions with Nokia's global reach and resources, they can create even greater value for customers and make a significant impact on the future of secure military communications.
NOK) has completed the acquisition of Fenix Group, a privately held company specializing in tactical communications solutions for the defense communities yet the stock is down 2.53% on Thursday's market trading. The acquisition, announced in December 2023, strengthens Nokia's position in the defense sector by adding Fenix's broadband tactical communications products, such as the Banshee family and Talon MANET radios, to its existing solutions portfolio. This expanded portfolio will allow Nokia (
NOK) to offer a more comprehensive suite of 3GPP-based solutions to its defense customers worldwide. Interoperable, 3GPP-based mobile networks will play an important role in the digitalization of military communications. The acquisition, including the Committee on Foreign Investment in the United States (CFIUS) review and approval, marks a significant milestone in Nokia's U.S. strategy and underscores its commitment to being a trusted provider of secure and innovative solutions to the U.S. Federal government. The combination of Nokia (
NOK) and Fenix supports the objective of bringing dual-use technology capabilities to the warfighter. Mike Loomis, President of Nokia Federal Solutions, said the acquisition marks a significant step forward in Nokia's strategy to grow its defense business and overall U.S. strategy. Dave Peterson, CEO of Fenix Group, expressed excitement about joining forces with Nokia, stating that by combining their innovative solutions with Nokia's global reach and resources, they can create even greater value for customers and make a significant impact on the future of secure military communications.
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