Nokia buys a bit of Panasonic

panasonicThe bit of Nokia, which is not busy merging with Microsoft, has just written a cheque for a slice of Panasonic’s electronics business.

The former rubber boot maker, which sold off its phone unit said it will buy Panasonic’s mobile phone wireless base station system business for operators as well as related wireless equipment system business.

No one is saying how much Nokia paid for it but the company expects to have completed the transaction by early 2015.

Nokia made 5.5 billion euros when it sold its phone division to Microsoft three months ago. Meanwhile Nokia has been buying up other businesses such as the Chicago-based SAC Wireless.

Japan is one of the new Nokia’s most important mobile network market areas and it controls a quarter of the Japanese market. This acquisition will bring that up to about one third.

Rauhala suggests that while this is not a “giant deal”, it is probably worth tens of millions of euros.

Panasonic is short of cash at the moment and needs the readies.