Redknee to Buy Nokia Siemens BSS Biz

Redknee (TSX:RKN) has reached a definitive agreement to acquire Nokia Siemens Networks' (NYSE:NOK) business support systems (BSS) business. The acquisition would involve the transfer to Redknee of Nokia Siemens Networks' BSS customer and supplier contracts, intellectual property rights, fixed assets and associated liabilities, along with approximately 1,200 BSS employees.The total consideration paid by Redknee for the BSS business will include 15 million euros in cash at closing, plus a maximum of 25 million euros for certain performance-based cash earn-outs expected to be paid over 12 to 36 months post-closing. The acquisition is anticipated to close in the first half of 2013.