Nokia Siemens Divests Unit to Redknee, Vringo Sues ZTE For Infringement: Tech Business Roundup
Nokia Siemens Networks (NYSE:NOK)(NYSE:SI) announced on Wednesday that it will divest its business support systems unit to Redknee Solutions (RKNEF.PK) as part of its move to sell off non-core assets. The buyer will pay €15 million, or $19.63 million, along with a maximum of €25 million for “performance-based cash earn-outs.” Additionally, Nokia Siemens had said on Monday that it will sell its optical fiber business.
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In a Wednesday press release, Vringo (AMEX:VRNG) said that its wholly-owned subsidiary, Vringo Infrastructure, has filed an additional patent infringement lawsuit against the United Kingdom subsidiary of ZTE Corporation (ZTCOF.PK). The plaintiff seeks “a declaration that its patents have been infringed by ZTE’s activities, and that the Court use its full legal, equitable and injunctive power to stop ZTE’s activities as may be appropriate in the circumstances.”
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