Nokia is selling its Device Management and Service Management Platform businesses to Lumine Group for £160 million.
This includes a payment of up to £30 million based on the business’s performance in the first year after the sale. Around 500 employees from Nokia’s Device Management and Service Management Platform will transfer to Lumine Group. It covers more than 1.5 billion devices for more than 70 telecom customers.
Both companies pledge a smooth transition and business continuity.
Nokia’s Device Management software helps communication service providers remotely manage home broadband access devices, as well as IoT sensors and devices from various vendors.
The company’s Service Management Platform enhances customer care services, with over 150 deployments worldwide and managing more than 1 billion devices.
Lumine Group, a part of Volaris Group and Constellation Software, specialises in acquiring and managing various business software companies, providing financial, operational, and management support.
The sale is part of Nokia’s strategy to actively manage its portfolio within the Cloud and Network Services (CNS) business group. Nokia states that the deal will enable customers of Nokia DM and SMP to benefit from Lumine’s financial resources. This move follows Nokia’s announcements to sell its VitalQIP products to Cygna Labs Corp and to adopt Red Hat as the primary infrastructure platform for its Core Network applications.
The sale is expected to be completed in the first quarter of 2024, subject to certain terms, conditions, and consultations with works councils or other employee representative bodies where required by law.