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Nokia Acquires Vienna Systems

Telecommunications firm Nokia Friday acquired Canadian IP company Vienna Systems for approximately $90 million.

Vienna Systems designs and manufactures hardware and software products that distribute voice, fax and video over IP networks. The acquisition was made to further advance Nokia's position in the IP telephony market, according to Pekka Ala-Pietil , Nokia's executive vice president.

"Nokia and Vienna Systems share similar visions of two rapidly developing trends--the ubiquitous use of IP as a universal communications platform and the increasing use of wireless networks for transmitting data, video and voice," said Ala-Pietil .

"Vienna Systems' prominent position in IP telephony provides Nokia with additional technical expertise and access to leading customers in this rapidly developing market."

Vienna Systems' products will continue to be available through existing distribution channels, including a collaborative sales and marketing relationship with Newbridge Networks.

Vienna Systems was founded in 1996 and currently employs 180 people in the United States and Canada.

Headquartered in Finland, Nokia employs more than 42,000 people worldwide. Net sales in 1997 were $US 9.8 billion