Nosi network plans to sell its optical network service to Marlin

Nokia Siemens Network (NSN), a mobile telecom device manufacturer, announced on Monday that it plans to sell its optical network business to Marlin Equity Partners, according to a message on August 1, December 4, Beijing time.

Nosi did not disclose the financial details of the asset transaction, but it expects the transaction to be completed in the first quarter of next year.

According to the statement, about 1900 employees will be transferred to the new company due to the transaction, most of which are located in Germany and Portugal.

Nosi networks is implementing a cost reduction plan, including cutting staff by 1/4, selling some product lines, and focusing on the mobile broadband field. Nosi's main competitors include Ericsson, Huawei, and Alcatel-Lucent.

Thanks to the best-selling fourth-generation high-speed LTE network devices in Japan and South Korea, nosi achieved a record revenue in the third quarter.

It is expected that nosi's restructuring plan will save 1 billion euros (about $1.3 billion) by the end of next year.