Nokia to acquire Comptel for £295 million

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Both firms have entered an agreement for the acquisition

Nokia is set to acquire fellow Finnish firm Comptel for £295 million in a move to expand its network capabilities.

Comptel specialises in software that helps telecom operators manage and control their services and networks, including BT.

The software company saw a unanimous vote for the sale by its board of directors. The firm’s software is used by more than 300 networks covering 1.2 million customers in 90 countries. It processes 20 per cent of the world’s daily mobile data usage, particularly in developing markets.

Last year Nokia bought Alcatel-Lucnet for £13 billion to broaden its products portfolio. In 2013 Nokia sold its smartphone division to Microsoft for £5.7 billion.

In a statement Nokia said: “The planned acquisition is part of Nokia’s strategy to build a standalone software business at scale by expanding and strengthening its software portfolio and go-to-market capabilities with additional sales capacity and a strategic partner network.”

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