Lumine Group Inc. will buy Nokia’s Device Management (DM) and Service Management Platform (SMP) businesses FOR EUR 185 million, which includes a contingent consideration of up to EUR 35 million based on the performance of the business during the first year following close.
Nokia Device Management software capabilities help communication service providers remotely manage home broadband access devices, as well as IoT sensors and devices from a variety of different vendors; while the company’s Service Management Platform improves customer care service, with coverage spanning more than 150 deployments worldwide and more than 1 billion devices under management.
Lumine Group acquires, manages, and builds industry-specific software, focused in the telecom and media space. The company intends to operate the acquired business as a standalone entity called "Motive". Approximately 500 Nokia Device Management and Service Management Platform employees are expected to transfer to Lumine Group as part of the deal.
Nokia says the divestiture reflects its strategy to focus resources on its core business.
Raghav Sahgal, President of Cloud and Network Services, at Nokia said: “Nokia is pleased to enter this agreement with Lumine as another sign of progress in our strategy to focus investment in those areas most important to our business. Lumine Group has the telecom industry expertise as well as the strategic focus and resourcing to drive the Device Management and Service Management Platform businesses forward to a stronger future.”
David Sharpley, Group President at Lumine Group said: “We are absolutely thrilled to welcome Device Management and Service Management Platform customers and employees to Lumine. Consistent with our autonomous operating model, we will be reviving the heritage Motive brand for this new stand-alone Lumine company and we look forward to partnering with Nokia to ensure operational continuity with all customers.”
- Earlier this year, Nokia announced plans to sell its VitalQIP products to Cygna Labs Corp and to make Red Hat the primary infrastructure platform for Nokia Core Network applications.
