Nokia to sell device management and service management platform business for 185 million euros

CTOnews.com, December 20 (Xinhua)-- Nokia today announced the sale of its device management and service management platform business to Lumine Group for 185 million euros (CTOnews.com Note: currently about 1.447 billion yuan), which is expected to be completed in the first quarter of next year.

CTOnews.com found that Lumine is a communications and media software company spun off by Constellation Software this year. About 500 Nokia employees are expected to join Lumine as part of the deal.

Public information shows that these platform businesses are mainly formed by Nokia through the previous two acquisitions of Motive and mFormation. Lumine said it intends to restore the Motive brand as a separate business unit.

Lumine said the purchase price included a contingent payment of up to 35 million euros (currently about 274 million yuan), which would depend on the business performance of the new owner in the first year.