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(Rafal Gerszak For The Globe and Mail)

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Redknee’s ‘audacious’ Nokia Siemens deal

As Nokia Siemens Networks BV focuses on its core mobile broadband division, it is selling another business arm to Mississauga, Ont.’s Redknee Solutions Inc. The purchase price, however, is far less than was expected when rumours of a sale emerged a few months ago.

Redknee said Wednesday it would acquire Nokia Siemens’ business support systems unit, which provides billing and customer care software for communications companies. The deal could be worth up to $52-million, including the transfer of roughly 1,200 staff, and is expected to close next year.