Volaris Completes Purchase of Nokia’s Video Product Business

5 months ago
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Volaris Completes Purchase of Nokia’s Video Product Business Image Credit: Nokia

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.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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