ADTRAN Inc. has completed its acquisition of a fixed-line broadband access business from Nokia Siemens Networks.
The deal, announced by the Alabama-based telecom equipment maker in December, also included the purchase of associated professional services and network management solutions. ADTRAN said at the time it anticipated bringing on board up to 400 employees from Nokia Siemens Networks, including individuals from engineering, R&D, sales and professional services.
Nokia Siemens Networks noted the sale was consistent with its strategy to focus on the mobile broadband and services market.
ADTRAN will hold a conference call Tuesday at 9:30 a.m. CT to discuss the acquisition.
Financial terms of the agreement were not revealed, although ADTRAN said it expected the acquisition to be neutral to its dilutive earnings per share for the first full year and accretive after that.
In its first-quarter results posted last month, ADTRAN reported a profit of $12.96 million on sales of $134.74 million. In the year-earlier period, the company reported net income of $34.26 million on sales of $165.52 million.
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