NIKON, Germany (Reuters) – Nokia Siemens Networks Inc will acquire green technology company NU-NIU Systems, the company said on Wednesday, with plans to use the combined technology to help solve a range of energy and environmental challenges.
The move will give Nokia Siemen Networks access to its extensive R&E and manufacturing capabilities, it said.
Nokia Siemens is developing new energy-efficient products for the industrial market and has a strong focus on green technologies, including green energy, NU and green materials.
The companies said in a statement the acquisition is expected to close in the first half of 2019, and that they expect to generate an additional $1.4 billion in cash.
The combined company will focus on industrial markets and will be a leader in renewable energy and green technology, the statement said.(Reporting by John Bresnahan; Editing by Nick Macfie)