Jarmo Piironen/iStock Editorial via Getty Images
Nokia (NYSE:NOK) is acquiring privately held Fenix Group to strengthen wireless offerings in the defense segment.
Chantilly, Va.-based Fenix — which is a portfolio company of Enlightenment Capital — specializes in tactical 3rd Generation Partnership Project, or 3GPP, communications solutions for the defense sector. Its communications products, include the Banshee product family.
Nokia said that Fenix’s systems are designed to provide high-speed, low latency data connections to many devices and users simultaneously, making them ideal for supporting a range of military applications.
“The acquisition of Fenix Group is an important milestone in our strategy to grow our defense business,” said Tommi Uitto, president of Mobile Networks at Nokia.
Earlier today, Nokia trimmed its 2026 comparable operating margin target to at least 13% from at least 14% previously, citing ongoing 5G market challenges. Last week, the Finnish company’s stock fell to its lowest point in 3.5 years, after it lost out on AT&T’s (T) Open RAN contract for up to $14B of cell tower equipment to Swedish supplier Ericsson (ERIC).
Separately, Nokia and Deutsche Telekom today announced that they have started to deploy a multi-vendor Open RAN network with Fujitsu in Germany.
NOK +2.24% to $3.19 premarket Dec. 12