Nokia has completed the acquisition of Canada-based software firm Nakina Systems, the latter said in a blog post. The financials behind the acquisition, which was originally planned in February, were not revealed. Nakina will help enhance Nokia’s security measures across its software and cloud offerings.
In February, Nokia mentioned in a press release that the acquisition will help Nokia support its customers who face constant security threats from solutions including 5G, Internet of Things, big data, Software Defined Networks, and cloud services. It also intends to use the planned acquisition to help customers meet several regulatory and legal mandated network security measures.
Nakina’s security capabilities will aid Nokia customers in preventing service interruptions that could damage or degrade customer experience, cause revenue loss and/or lead to service level agreement penalties. Previously, both companies had a five-year partnership whereby Nokia used Nakina’s software in several customer projects. Nakina focuses on security and orchestration software for virtual and hybrid networks. Its main customers include global service providers like Time Warner, and Turk Telekom.
Financials: Nokia’s operating profits increased by 4% year-on-year (YoY) to €475 million in Q3 2015 from €457 million in the same quarter last year. The company had reported an operating profit of €494 million in the previous quarter and net sales of €3.04 billion compared to €3.09 billion in the same quarter last year.
Nokia Networks and Nokia Technologies are two major businesses left with Nokia after the sale of its devices and services business to Microsoft in April 2014. Nokia also sold HERE maps to Audi, BMW and Daimler in August 2015 for €2.8 billion (over $3 billion).
Other recent developments:
-In April 2015, Nokia acquired French telecommunications equipment company Alcatel-Lucent for €15.6 billion, in an all share deal.The combined company will be called Nokia Corporation, with headquarters in Finland and a strong presence in France.
-In the same month, Nokia confirmed that it has no plans to manufacture and/or sell consumer handsets, as had been reported in the media. However, in late June, Nokia CEO Rajeev Suri said that the company was planning on returning to the mobile phones business in 2016, after its contract clause with Microsoft preventing it from using its brand name on handsets expired.
-In February, IIT Madras tied up with Nokia under a 3 year partnership to create solutions to enhance broadband connectivity in rural India. Nokia said that it would fund and offer tech expertise for research at IITM’s Center of Excellence for Wireless Technology (CEWiT) and explore using unlicensed spectrum to offer cheap broadband connectivity to remote rural areas.