Nokia Solutions and Networks Israel is closing down after ten years, and the company's employees have acquired it, after securing the necessary investment. They have established a new company, Atrinet Ltd., from the business.
The name Atrinet is derived from Atrica, an Ethernet solutions company, which Nokia Siemens Networks (as it was known at the time) acquired in 2007. The executive bios - CEO Efi Levy, chief marketing officer Ohad Kamer, and COO Meir Ben-Moshe - on the company's website do not mention Atrica, but the companies operate in similar fields: Atrinet acquired the carrier Ethernet transport (CET) unit from Nokia Solutions.
The establishment of Atrinet follows a series of layoffs at Nokia Solutions in Israel, in line with Nokia Corporation's (NYSE; LSE: NOK) global troubles. At its peak, following the acquisition of Atrica, Nokia's Israeli R&D center had 500 employees. Atrinet has just 25 employees.
Atrinet will focus on Software Defined Networks (SDN) and Network Functions Virtualization (NFV), and Nokia Solutions will be the first customer. "The extensive knowhow that we acquired over the years in developing end-to-end Ethernet and advanced network management solutions will enable us to put our stamp on network management systems," said Levy.
Published by Globes [online], Israel business news - www.globes-online.com - on February 5, 2014
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