Mobile telecoms equipment joint venture Nokia Siemens Networks said on Wednesday it plans to sell its business support systems business to Redknee as part of a drive to sell non-core assets.
The companies said Redknee (Toronto, Canada) will pay 15 million euros ($19.63 million), plus a maximum of 25 million euros for "performance-based cash earn-outs."
Nokia Siemens (Helsinki, Finland) on Monday had announced an agreement to sell its optical fiber unit.
The company, owned by Nokia (Helsinki, Finland) and Siemens (Munich, Germany), has sold a number of product lines since it announced plans last year to sell non-core assets and cut 17,000 jobs, nearly a quarter of its total workforce.
($1 = 0.7642 euros)
(Reporting By Jussi Rosendahl. Editing by Jane Merriman)