Nokia Buys Comptel for $370 Million to Add Network Software

Comptel shareholders will get 3.04 euros a share in cash, Nokia said in a statement. Nokia and rivals such as Ericsson AB of Sweden are trying to sell more services and software to wireless carriers to reduce reliance on cyclical network-equipment revenue. Phone companies in several key markets have largely completed their faster fourth-generation networks, putting pressure on infrastructure manufacturers such as Nokia to look for new customers and revenue streams. The acquisition gives Nokia programs to help process and analyse data traveling in carriers’ networks -- part of its plan to build a standalone software business, announced in 2015. The unit will focus on enterprise software and platforms for Internet-of-Things, and Nokia aims to make it as profitable as major companies in the field. (Bloomberg)



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