Lumine to acquire Nokia’s Device Management, Service Management Platform units

Lumine Group (LMGIF) announced that, through one of its wholly-owned subsidiaries, it has entered into a definitive agreement to acquire the Device Management and Service Management Platform businesses from Nokia (NOK). This will mark Lumine Group’s second carve-out transaction with Nokia. Device Management and Service Management Platform are primarily the result of two previous acquisitions by Nokia, namely Motive and mFormation. Following the acquisition, Lumine Group will restore the Motive brand as the new corporate entity for the Device Management and Service Management Platform solutions as a stand-alone business unit within Lumine Group. Under the terms of the agreement, Lumine Group will acquire Nokia’s Device Management and Service Management Platform businesses for a total purchase price of up to EUR 185 million euros, which includes a contingent consideration of up to EUR 35 million euros based on the performance of the business during the first year following close. This transaction is expected to close in Q1 2024 and is subject to customary closing conditions.