August 10, 2020
Espoo, Finland and Victoria, BC – Nokia and Vecima Networks (TSX: VCM) today announced the successful completion of the sale of Nokia’s Gainspeed portfolio, supporting technology and assets to Vecima Networks. This follows the planned acquisition that was originally announced.
Nokia will maintain an ongoing business relationship with Vecima that includes key, enabling technologies to address unified cable access opportunities. Nokia will retain its cable-related products and solutions including mobile, routing, transport, fiber, and fixed wireless access technology, along with network operations and customer experience-related solutions. Financial details of the sale are not being disclosed.
About Nokia
We create the technology to connect the world. Only Nokia offers a comprehensive portfolio of network equipment, software, services and licensing opportunities across the globe. With our commitment to innovation, driven by the award-winning Nokia Bell Labs, we are a leader in the development and deployment of 5G networks.
Our communications service provider customers support more than 6.4 billion subscriptions with our radio networks, and our enterprise customers have deployed over 1,300 industrial networks worldwide. Adhering to the highest ethical standards, we transform how people live, work and communicate. For our latest updates, please visit us online www.nokia.com and follow us on Twitter @nokia.
About Vecima Networks
Vecima Networks Inc. is a global leader focused on developing integrated hardware and scalable software solutions for broadband access, content delivery, and telematics. We enable the world’s leading innovators to advance, connect, entertain, and analyze. We build technologies that transform content delivery and storage, enable high‑capacity broadband network access, and streamline data analytics. For more information, please visit our website at www.vecima.com.
Inquiries:
Nokia
Communications
Phone: +358 10 448 4900
Email: press.services@nokia.com
Vecima Networks
Investor Relations
Phone: +1-250-881-1982
Email: invest@vecima.com
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