Nokia Corporation (NOK - Free Report) has recently completed the acquisition of Unium, a US-based software company, specialized in providing solutions to complex wireless networking problems for use in mission-critical and residential Wi-Fi networks. The deal was initially announced last month.
Unium will now function as part of Nokia's Fixed Networks business group. The acquirer’s Wi-Fi portfolio will be embedded with the acquired company's software and intelligent mesh wireless technology, which has capacity to bolster the end-to-end, whole-home Wi-Fi solution of the former. Also, the technology will support Nokia’s objective of offering solutions to Wi-Fi related problems at home.
We remind investors that the company has been making acquisitions/inking deals for quite some time to drive growth. Last year, it acquired Comptel Corporation, a Finnish telecommunications software company. The buyout boosted Nokia’s software portfolio by adding capabilities that help digital service providers deliver new communications services to the market faster. The same year, the company also closed the acquisition of Deepfield, the US-based leader in real-time analytics for IP (Internet Protocol) network performance management and security.
Zacks Rank & Key Picks
Nokia carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Comtech Telecommunications Corporation (CMTL - Free Report) , Harris Corporation (HRS - Free Report) and Motorola Solutions, Inc. (MSI - Free Report) . While Comtech Telecommunications sports a Zacks Rank #1 (Strong Buy), Harris and Motorola carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Comtech Telecommunications, Harris and Motorola have gained more than 32%, 9% and 16%, respectively, in the last three months.
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