Nokia to Buy Diamond Lane

L.A. Times Archives

Feb. 17, 1999 12 AM PT

Swedish cellular phone maker Nokia agreed to buy Petaluma, Calif.-based Diamond Lane Communications Corp. for $125 million to help meet demand for Internet access through wireless phones. Diamond Lane, a private company, specializes in so-called multi-service digital subscriber line access multiplexers, which allow up to 125 times faster Internet access than current systems. Diamond Lane will be merged into Nokia within 30 days and renamed Nokia High Speed Access Products.

For the record:

12:00 a.m. Feb. 18, 1999 For the Record
Los Angeles Times Thursday February 18, 1999 Home Edition Business Part C Page 3 Financial Desk 1 inches; 23 words Type of Material: Correction
Nokia headquarters--Nokia, the world’s No. 1 cellular phone maker, is based in Finland. An item in Wednesday’s edition incorrectly identified its headquarters.

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For the record:

12:00 a.m. Feb. 18, 1999: For the Record
Los Angeles Times Thursday February 18, 1999 Home Edition Business Part C Page 3 Financial Desk 1 inches; 23 words Type of Material: Correction
Nokia headquarters--Nokia, the world’s No. 1 cellular phone maker, is based in Finland. An item in Wednesday’s edition incorrectly identified its headquarters.