By Robb M. Stewart

Communications and media software buyer Lumine Group agreed to acquire Nokia's device and service management platform businesses for as much as EUR185 million, the equivalent of $203.1 million.

Lumine, spun off this year by Constellation Software, said the price tag includes a contingent payment of up to EUR35 million that will be based on the performance of the business during the first year under new ownership.

The platform businesses were formed largely through two prior acquisitions by Nokia, Motive and mFormation. Lumine said it plans to restore the Motive brand as the new corporate entity for the platform as a stand-alone business unit.

Lumine expects the transaction to close by the end of March.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

December 20, 2023 08:57 ET (13:57 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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