Lumine to Buy Device Management and Service Management Platform Businesses from Nokia
21 December 2023 - 1:12AM
Dow Jones News
By Robb M. Stewart
Communications and media software buyer Lumine Group agreed to
acquire Nokia's device and service management platform businesses
for as much as EUR185 million, the equivalent of $203.1
million.
Lumine, spun off this year by Constellation Software, said the
price tag includes a contingent payment of up to EUR35 million that
will be based on the performance of the business during the first
year under new ownership.
The platform businesses were formed largely through two prior
acquisitions by Nokia, Motive and mFormation. Lumine said it plans
to restore the Motive brand as the new corporate entity for the
platform as a stand-alone business unit.
Lumine expects the transaction to close by the end of March.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
December 20, 2023 08:57 ET (13:57 GMT)
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