wireless networks

Nokia Siemens to Buy Motorola Unit for $1.2 Billion

Nokia Siemens Networks plans to buy a significant portion of Motorola's wireless network equipment assets for $1.2 billion cash, the companies announced Monday. The joint-venture of Nokia (NOK) and Siemens (SI) will push the venture into the No. 1 spot in the U.S. for wireless equipment companies and give Motorola's (MOT) effort to split into two companies a strong head start.