Consulting and outsourcing group Accenture (Dublin, Ireland) has bought some internet protocol television (IPTV) assets from Nokia Siemens Networks (Helsinki, Finland) to bolster its online video capabilities, it said on Monday.
Terms of the transaction were not disclosed.
Accenture said the newly acquired IPTV software, assets and capabilities would be part of its video solutions business that helps companies launch video services at a low cost.
Internet protocol television uses the same technology that powers the Internet to transmit multimedia content over telecom and cable networks.
A source close to the deal said 17 employees of Nokia Siemens would join Accenture.
Belgacom (Brussels, Belgium) said in June it planned to acquire certain IPTV assets and rights from Nokia Siemens Networks, as well as approximately 25 personnel. That deal is yet to close.
The two deals will mark an exit from the IPTV business for Nokia Siemens Networks, a 50-50 joint venture between Nokia Oyj (Helsinki, Finland) and Siemens AG (Munich, Germany), which is in the middle of a cost-cutting plan that includes laying off a quarter of its staff and selling product lines to focus on mobile broadband.
The venture is in talks to sell its business support systems unit, which provides billing and charging systems for telecoms operators.
Accenture shares were up 8 cents at $70.11 on the Nasdaq on Monday. The stock touched an all-time high of $70.97 earlier in the session. Nokia's U.S. traded shares were 17 cents higher at $2.74.
(Reporting by Neha Alawadhi in Bangalore and Tarmo Virki in Helsinki; Editing by Sreejiraj Eluvangal and Mark Potter)