Nokia Oyj (ADR) (NYSE:NOK) Refutes Acquisition Discussions With Juniper Networks

791

Nokia Oyj (ADR) (NYSE:NOK) refuted that it’s in acquisition discussions with Juniper Networks Inc., post a CNBC report mentioned the Finnish firm was preparing an offer worth $16 billion for the network-equipment maker. Juniper shares, which initially recorded gains of more than 25%, pared around all those gains post Nokia’s statement.

The buzz

In unrelated news, Nokia reported that it was expanding its R&D center in Bengaluru to advance on next-generation technologies. Sanjay Malik, the Head of Indian Market at Nokia, expressed that the engineering team works on end-to-end products and solutions. The facility will perform research in different areas such as big data analytics and cloud computing.

It would also focus on 5G mobile networks that intends to bring faster and richer data and VoLTE, a standard for top wireless communication for mobile phones and data terminals. In coming period, these would power distinct innovations such as driverless cars, automation at home and workplace, and telemedicine.

From 5G perspective, it would enhance the speed multifold, increase the capacity and assist in heavy data utilization kind of applications and lower latency. Nokia reported the Bengaluru centre was one of its four international research and development locations. It now employed over 6,000 engineers with that count set to increase in 2018.

Rupa Santosh, the Head of the Technology Center, said that the work they do is for the offerings that are sold globally. The center took entire ownership from early life cycle to products delivery. Nokia reported that it had also developed a dedicated laboratory for Internet of Things and 5G. It had established several IoT use cases, including smart parking and real-time city surveillance. The company has been also associated with Indian service providers to help them upgrade their networks to 5G.

In the last trading session, the stock price of Nokia declined 0.59% to close the day at $5.02.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.