Nokia to sell security appliances business within a few weeks

Nokia (NYSE: NOK) Oyj is in talks to sell its security appliances business to a financial investor within a few weeks. According to Reuters, the deal will affect around 700 staff in total, almost 500 of them working for the “profitable” security appliances unit.

As a result, Nokia will focus on developing and selling corporate phones, while partnering with such companies as Microsoft (NSDQ: MSFT), IBM and Cisco on a wider business offering. In addition, after the deal is closed, Nokia’s new Services and Software unit will be focused on consumer offerings.

As a reminder, Nokia’s corporate offering has been built around a $430 million acquisition of U.S. wireless e-mail company Intellisync, which the Finnish giant bought in 2006.

[Via: Reuters]