DragonWave (News - Alert), a supplier of packet microwave radio systems for mobile and access networks, has recently completed the acquisition of microwave transport business from Nokia Siemens Networks (News - Alert). This included selling related operational support systems (OSS) and related support functions (the “business”) to DragonWave, Inc. The deal was completed under the terms of the amended agreement.
Recently, the company announced that it had implemented various structural adjustments to reflect its global integration plan for the recently-completed acquisition of Nokia Siemens Networks' microwave transport business.
According to the agreement, DragonWave now becomes the preferred, strategic supplier to Nokia Siemens Networks of packet microwave and related products. Both the companies will jointly coordinate technology development activities. Once all of the licenses and permissions are in place, the acquisition of the business in China is expected to be completed in the second half of 2012.
DragonWave will eliminate 68 positions from the company's workforce in Ottawa and Israel, as the company is looking to better manage costs with revenue. As a result of this staff reduction, DragonWave is looking to save approximately $6 million in annual operating expenses, the company stated in a press release.
“The thrust of the actions we have announced today is to position ourselves properly to serve our global customer set, to support our expanded product portfolio, to accelerate the rate of innovation, and to reduce costs," said Peter Allen (News - Alert), DragonWave's president and CEO, in a company press release.
Recently, Carl Ford, TMC’s Partner, Crossfire Media, interviewed Dragonwave’s Alan Solheim (News - Alert), VP of Corporate Development, to discuss some of the company’s latest developments. In the interview, Alan Solheim stated that the company will be rebranding the company’s FlexiPacket radio and integrating it into the Harmony product line. This includes a trunking radio, an all outdoor radio and a split mount hybrid radio. The integrated product line will be sold by the company under the Harmony brand and Nokia Siemens Networks existing channel.
Edited by Brooke Neuman