Nokia completes IP Video sale; names Fixed boss - Mobile World Live

Nokia completes IP Video sale; names Fixed boss

02 JAN 2019

Nokia finalised the sale of the majority of its IP Video business to Volaris Group, a Canadian software company, for an undisclosed amount.

Volaris purchased Nokia video products covering caching and streaming; origin and storage technology; and stream personalisation software. These will be incorporated into a new standalone unit called Velocix, which the vendor described as a “pure play streaming technology company”.

Nokia will remain a minority shareholder in Velocix, which will operate as an independent business within Volaris’ communications and media portfolio.

Nokia had said back in September most of its current IP Video personnel will move with the sale, though some will stay as the vendor intends to retain parts of the video operation including its integration business to maintain backing for existing customers.

The deal will also ease some of the pressure on Nokia’s IP/Optical division, which recorded declines in earnings during Q2. Revenue declined 3 per cent year-on-year to €1.3 billion, with operating profit down 89 per cent to €10 million.

Management changes
Meanwhile Nokia announced earlier this week it has named Sandra Motley as president of its Fixed Networks Business Group effective January 1, 2019. She was previously COO of the division.

Motley will succeed Federico Guillen, who was appointed president of Customer Operations, EMEA & APAC during a management reshuffle last November.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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