Lumine Group completes the purchase of Nokia’s Video Product Business
TORONTO, ON, JANUARY 1, 2019 – Lumine today announced the successful completion of the purchase of the majority of Nokia’s IP Video business. This acquisition 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 Lumine Group’s Communications & Media portfolio. Financial details of the sale are not being disclosed.
(Note: At the time of the acquisition, Lumine Group was known as Volaris Group Communications & Media. Changes have been made in this press release to replace “Volaris Group Communications & Media” with “Lumine Group”.)