Nokia announced the successful completion of the sale of the majority of its IP Video business to Volaris Group, a Toronto-based software company.
The divestment was originally announced September 13, 2018.
Nokia's video product portfolio - including its caching and streaming products, origin and storage technology, and stream personalization software - is expected to move to Volaris and launch a new pure play streaming technology company, Velocix, operating as an independent business within Volaris Group's Communications & Media portfolio. 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.
