HELSINKI : The European Aeronautic Defence and Space Company could buy Finnish mobile phone giant Nokia's Professional Mobile Radio (PMR) unit in an attempt to expand its share of the global homeland security market, the two companies said.
The deal, which would call for the 325 employees in the Nokia unit to be transferred to EADS, would aim to increase the European company's position "in homeland security systems and mission critical secure wireless communications," the companies said in a statement.
"We are convinced of the benefits this move brings to our customers," vice president of the Nokia unit Matti Peltola said in the statement.
The negotiations between the two companies were characterized as "advanced," with the acquisition expected to be completed by the end of this year if it receives all necessary regulatory approvals.
The two companies did not reveal how much money would change hands if the purchase went through, but Finnish news agency FNB reported that the deal could be worth 90 million euros (116 million dollars).