Nokia has announced the completion of the sale of majority of its IP Video business to Volaris Group, a Toronto-based software company. The divestment was originally announced September 13, 2018.
Nokia will remain a minority shareholder in the new pure play streaming technology company, Velocix, operating as an independent business within Volaris Group’s Communications & Media portfolio. Financial details of the sale are not being disclosed.
Nokia creates the technology to connect the world. Powered by the research and innovation of Nokia Bell Labs, the company serves communications service providers, governments, large enterprises and consumers, with the industry’s most complete, end-to-end portfolio of products, services and licensing.
Toronto, Canada based Volaris acquires, strengthens and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow ' whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions.
