05:56 PM EDT, 04/01/2024 (MT Newswires) -- Nokia ( NOK ) has closed the sale of its device and service management platform businesses to Lumine Group for up to 185 million euros ($198.8 million), the latter said late Monday.

The amount includes a contingent consideration of up to 35 million euros based on the performance of the business during the first year following the deal's completion, Lumine said.

The company will brand the businesses under the restored brand Motive, Lumine said.

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