Nokia offers to buy Comptel for $370 million

Reuters News
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Posted: Feb 09, 2017 2:21 AM

HELSINKI (Reuters) - Network equipment maker Nokia <NOKIA.HE> said on Thursday it has agreed to buy another Finnish company, Comptel <CTL1V.HE>, for about 347 million euros ($370 million) to expand its software business.

The cash offer, 3.04 euros per share, represents a premium of 29 percent compared to Comptel's last closing price.

"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.

(Reporting by Jussi Rosendahl, editing by Terje Solsvik)