December 21, 2023 – Nokia today announced its decision to sell its device and service management platform business to Lumine Group for a sum of €185 million (approximately 1.447 billion yuan). The sale is expected to be finalized in the first quarter of the following year.
Lumine Group, recently spun off from Constellation Software, specializes in communication and media software solutions. As part of this strategic acquisition, around 500 Nokia employees are anticipated to transition to Lumine, marking a significant shift in their professional trajectories.
Historically, the platforms in question evolved through Nokia’s acquisitions of Motive and mFormation. Lumine has expressed a keen interest in reviving the Motive brand, planning to reestablish it as an independent operational unit within the organization.
The acquisition’s financial details reveal an interesting structure: the €185 million price tag includes a contingent consideration of up to €35 million (about 274 million yuan). This additional payment is contingent on Lumine’s business performance in its first year post-acquisition, underscoring the deal’s potential growth and success metrics. This move signifies a notable realignment in the telecommunications and media software industry, with implications for both companies’ futures and the broader market landscape.