Nokia announces deal to sell DM, SMP businesses to Lumine

Nokia (NOK) announced an agreement under which Lumine Group (LMGIF) will buy Nokia’s Device Management and Service Management Platform businesses. The deal will enable Nokia DM and SMP customers to benefit from Lumine’s telecom industry expertise, financial resources, and strategy to invest in a long-term product roadmap. The Deal marks further progress in Nokia’s strategy to actively manage its Cloud and Network Services business group portfolio in order to invest in other strategic areas and enhance technology leadership. The deal is valued at 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. The deal is expected to close in the first quarter of 2024, subject to certain terms, conditions, and consultations with works council or other employee representative bodies where required by law.