HELSINKI – Finnish telecoms network equipment maker Nokia said on Thursday it is seeking to buy company Comptel for about 347 million euros ($370 million) to expand its software services business.
Nokia and its rivals, Sweden's Ericsson and China's Huawei have struggled recently as demand for faster 4G mobile broadband equipment has peaked and the move to the next-generation 5G networks are still years away.
Nokia said its customers were now turning to software to make their networks more intelligent.
"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," Nokia said in a statement.
The cash offer, 3.04 euros per share, represents a premium of 29 percent compared with Comptel's last closing price.
Comptel, which had sales of about 100 million euros in 2016, said its board of directors, and shareholders that hold about 48 percent of the shares backed the offer.
Last year, Nokia bought Franco-American group Alcatel-Lucent in a 15.6 billion-euro all-share deal and is cutting thousands of jobs as it seeks to reduce annual costs by 1.2 billion euros ($1.3 billion) by 2018. –Reuters
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
تازہ ترین خبریں حاصل کرنے کے لیے فوری اطلاع کی اجازت دیں
آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔