Open to acquisitions, but no need to rush: Nokia CEO Rajeev Suri

Finnish telecoms equipment maker Nokia has money to buy rivals, but will not necessarily need them, the incoming CEO Rajeev Suri said on Tuesday, adding that he sees good potential for growth in patent licensing deals. Nokia has cash at hand after a 5.6 billion euro ($7.8 billion) sale of its mobile phone unit to Microsoft. Asked about acquisitions, Suri told a news agency in a telephone interview that small ones are possible. "In terms of larger players, if there is something that makes sense, of course I will recommend that to the board. But it needs to make sense, it needs to be a wisely thought-out thing," Suri said. "We will be open to the opportunities but (there's) no need to rush." Suri also said the company could bundle intellectual and technology licensing and grow in that manner. In a video message on the Nokia corporate Website, Suri said, "As I take on the role of CEO of Nokia, I do so with humility, respect and excitement. I've been in Nokia for nearly 20 years and the opportunities in front of us are as great as I have seen. The coming changes in technology will be as profound as the creation of the Internet." And in a press statement, Suri said he was looking forward to expanding the business. "Nokia, with its deep experience in connecting people and its three strong businesses, is well-positioned to tap new opportunities during this time of technological change. I look forward to working with the entire Nokia team as we embark on this exciting journey." With inputs from Reuters