Communication and information technology company, Nokia has announced to acquire Finnish network software provider Comptel for $371 million(€347 million) to advance its software strategy. According to Nokia, post acquisition, it will give service providers a comprehensive solution to design, deliver, orchestrate and assure communications and digital services across physical, virtual and hybrid networks.
“Nokia is committed to building its software business and is backing its commitment with strategic investments. The timing of the Comptel purchase is important as our customers are changing the way they build and operate their networks,” said Bhaskar Gorti, President, Nokia’s Applications and Analytics Business Group.
“They are turning to software to provide more intelligence, automate more of their operations, and realize the efficiency gains that virtualization promises. We want to help them by offering one of the industry’s broadest and most advanced portfolios. Comptel helps us do that,” he added.
Being neighbors from Finland, Comptel and Nokia are also considering this as a regional consolidation.
“Together with Nokia we would create an agile and innovative player which can challenge current market leaders head-to-head. Throughout the past five years we have been working hard to sharpen our thought leadership and competitiveness by rebuilding the brand, product portfolio and values driven culture,” said Juhani Hintikka, President and CEO, Comptel.
“I am 100% confident that we are now capable, ready and passionate to take the next step in scaling and expanding our business beyond the ordinary with a new set of resources that Nokia would provide us,” he added.
Nokia also claims that Comptel’s technology would help its customers automate its network and business operations. Additionally, Comptel will be providing Nokia new software technology, network of people to sell services to the market, and a base of carriers that are already using Comptel services.