Nokia Siemens Networks has announced it will pay $1.2 billion in cash for most of Motorola's wireless network equipment business, according to reports by Wall Street Journal and Market Watch. The joint venture between Finland's Nokia and Germany's Siemens already holds a strong presence in the U.S. and across the world, but the deal would propel it to become the No. 3 wireless infrastructure vendor stateside and the top foreign wireless vendor in Japan.

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