Nokia seeks to expand software business with Comptel acquisition

Network equipment maker Nokia said on Thursday it has agreed to buy another Finnish company, Comptel, 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% 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.