Press Release
Nokia successfully completes acquisition of Fenix Group, accelerating U.S. strategy
- Acquisition strengthens Nokia's tactical communications portfolio offer
22 May 2024
Espoo, Finland - Nokia today announced the successful completion of its acquisition of Fenix Group, a privately held company that specializes in tactical communications solutions for the defense communities.
The acquisition, originally announced in December 2023, strengthens Nokia's position in the defense sector by adding Fenix's innovative broadband tactical communications products, including the industry-leading Banshee family and Talon MANET radios, to its existing solutions portfolio. This expanded portfolio will allow Nokia to offer a more comprehensive suite of 3GPP-based solutions to its defense customers worldwide. Interoperable, 3GPP-based mobile networks that are built for data-hungry applications will play an important role in the digitalization of military communications.
The closing of the acquisition, including the associated Committee on Foreign Investment in the United States (CFIUS) review and approval, marks a significant milestone in Nokia's U.S. strategy. It underscores Nokia's commitment to being a trusted provider of secure and innovative solutions to the U.S. Federal government. With Fenix's established support to Defense Department programs, Nokia is now well-positioned to further expand its role as a pivotal technology provider for mission-critical needs.
Nokia and Fenix were jointly selected by the Defense Innovation Unit (DIU) in October 2021 for a program. The mission was to provide ad hoc tactical private wireless communications bubbles. The combination of Nokia and Fenix supports the objective of bringing dual-use technology capabilities to the warfighter.
Mike Loomis, President of Nokia Federal Solutions: "The closing of the Fenix Group acquisition marks a significant step forward in our strategy to grow our defense business, as well as our overall U.S. strategy. Fenix's expertise in broadband tactical communications perfectly complements our existing offerings, and together we will be even better positioned to deliver high-performance, secure, and reliable solutions to our defense customers, helping them achieve mission-critical objectives."
Dave Peterson, CEO of Fenix Group: "We are excited to officially join forces with Nokia. By combining our innovative solutions with Nokia's global reach and resources, we can create even greater value for our customers and make a significant impact on the future of secure military communications."
Fenix Group was previously a portfolio company of Enlightenment Capital.
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