Nokia Siemens to sell business support systems

HELSINKI Wed Dec 5, 2012 3:32am EST

Related Topics

HELSINKI (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 fiber 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.

($1 = 0.7642 euros)

(Reporting By Jussi Rosendahl. Editing by Jane Merriman)

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article