Cisco considering acquiring Nokia

Cisco considering acquiring Nokia

Leaders in network hardware products, Cisco is now considering acquiring the world’s largest maker of mobile phone products Nokia. The aim is to gain expertise and market share in the wireless infrastructure technology. The news was reported by the Business newspaper on Sunday though the source behind the information was not revealed.

The report claimed that the US based tech giant Cisco had initially concentrated on acquisitions of niche technology players. However, the new Chief Executive John Chambers is more into merging the company with a wireless infrastructure company. In addition, Nokia as a mobile phone manufacturer and leaders in their own fields suits the requirement optimally.

Cisco is the world leader when it comes to development and manufacturing of Internet equipment. Its net worth in the market is around $123 billion. On the other hand, Nokia based in Finland is the largest maker of Mobile Phones, dominates the market in European and Asian markets, and has a net worth of $71 billion.

The report also said that Cisco’s mainstay networking market was fast changing with the convergence of fixed-line and wireless networks and they would definitely like to acquire an entity that specializes in creating intelligent wireless applications, which Finnish-based Nokia could provide. Both Cisco and Nokia have declined to comment on these rumors floating in the media and press.