Nokia Siemens to sell business support systems

HELSINKI Wed Dec 5, 2012 3:32am EST

HELSINKI Dec 5 (Reuters) - Mobile telecoms equipment joint venture Nokia Siemens Networks said on Wednesday it plans to sell its business support systems business to Redknee as part of a drive to sell non-core assets.

The companies said Redknee will pay 15 million euros ($19.63 million), plus a maximum of 25 million euros for "performance-based cash earn-outs."

Nokia Siemens on Monday had announced an agreement to sell its optical fibre unit.

The company, owned by Nokia and Siemens , has sold a number of product lines since it announced plans last year to sell non-core assets and cut 17,000 jobs, nearly a quarter of its total workforce.

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