Adtran Says Transaction Price for NSN Unit Is “Not Material"

Adtran Inc. (ADTN) said the price paid to acquire a fixed-line broadband equipment unit from Nokia (NOK1V) Siemens Network was “not material.”

The Huntsville, Alabama-based company expects to get $140 million to $180 million in revenue from the unit for the first twelve months after closing, Chief Executive Officer Tom Stanton said on a conference call. Closing is expected “around the end of April 2012,” he said.

To contact the editor responsible for this story: Diana ben-Aaron at dbenaaron1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.