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Nokia to acquire Comptel Corporation to advance its software strategy

Feb 10, 2017 16:09 IST

Nokia Corporation 9 February 2017 announced to acquire Comptel Corporation to advance its software strategy. The acquisition will also provide service providers with a comprehensive solution to design, deliver, orchestrate and assure communications and digital services across all the networks.

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Earlier on 8 February 2017, Nokia and Comptel entered into a Transaction Agreement under which Nokia, through its wholly owned subsidiary Nokia Solutions and Networks Oy, undertook voluntary public cash tender offer to purchase all of the issued and outstanding shares of Comptel.

Highlights of the acquisition

• The price offered for each share in the Tender Offer was EUR 3.04 in cash.
• The Tender Offer valued Comptel at approximately EUR 347 million on a fully diluted basis.
• When Comptel will be combined with Nokia's OSS, BSS, analytics and cloud technology, customers will be provided with end-to-end orchestration of complex Network Function Virtualisation (NFV) and Software Defined Networking (SDN) deployments.
• It will also allow Nokia to build a standalone software business by expanding and strengthening its software portfolio with additional sales capacity and a strategic partner network.
• Comptel will bolster Nokia's software portfolio by adding critical solutions for catalogue-driven service orchestration and fulfilment, customer engagement, intelligent data processing and agile service monetisation.

Background

• In November 2016, Nokia announced its long-term strategy 'Rebalancing for Growth'.
• As part of the strategy, Nokia aimed to strengthen its software capabilities in key areas: portfolio, services and go-to-market.
• The planned acquisition of Comptel will allow Nokia in accomplishing its strategy by bolstering go-to-market efforts with a software-dedicated sales force and strong partner network.

About Comptel Corporation
• Comptel is a long-time Nokia partner.
• Based in Finland, it was founded in 1986 with over 800 employees in 32 countries.
• It has completed over 1400 customer projects in more than 90 countries.
• It processes 20 percent of world's mobile usage data every day, orchestrates communications and digital services for more than two billion end-users daily.
• It has its major sites in Finland, Bulgaria, Malaysia, India, the United Kingdom and Norway.

Quick Digest

Who: Nokia

What: To acquire Comptel Corporation

When: 9 February 2017

Is this article important for exams ? Yes2 People Agreed
Read more Current Affairs on: Nokia , Comptel Corporation , acquisition , Nokia-Comptel

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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