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HERENTALS, Belgium July 1, 2008 -- Nokia
Siemens Networks, one of the worlds foremost global
enablers of
communications services, and GIMV, a leading Belgian investment
company specialising in private equity and venture capital, have
concluded the asset sale and transfer agreement pertaining to Nokia
Siemens Networks’ entire Open Transport Network (OTN) team. The
transfer has been approved and has undergone approval with the works
council according to local legal practice and final agreement has been
signed by both companies.
As of July 1, the Nokia Siemens
Networks OTN team of approximately 80 people, will officially transfer
to a newly formed company named OTN Systems N.V. with registered
offices at Atealaan 34, 2200 Herentals, Belgium . OTN Systems N.V. is
owned in majority by GIMV. This includes key functions in R&D,
Manufacturing, Sales, Technical Support, Finance as well as Product and
Pro-gram Management. In addition, Nokia Siemens Networks would continue
to sell OTN products through direct channels and open up its Value
Added Reseller network to OTN.
“I would like to thank OTN
employees for the work that they have done for our company. The proven
expertise and market success is a solid foundation for their future
success. This expertise convinced GIMV to take the OTN business further
to build and expanding on your strengths,” said Karl Friedrich, Head of
Business Line Next Gen Metro, Nokia Siemens Networks. “I would like to
wish OTN Systems N.V. and GIMV the best of success for this new
endeavour.”
About GIMV
Since
its incorporation in 1980, GIMV has grown into one of Belgium's most important
private equity and venture capital provider. GIMV is also a major
European and international market player. Both in Belgium and abroad,
GIMV invests in information and communication technology, life sciences
and cleantech as well as in growth financing and management buy-outs
(MBOs) of companies in more traditional sectors. In the Benelux region
the company also targets infrastructure and PPP projects. GIMV
currently manages around €2.0 billion of assets (including third
party funds). GIMV has been listed on Euronext Brussels since 1997.
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