Industry News
Nokia signs agreement to sell OE automotive business
15th May 2008
Nokia signed an agreement yesterday with a newly formed company named novero GmbH on the divestment of its line fit automotive business. Novero is owned by Razvan Olosu, the former head of Nokia's Enhancements unit, and Equity Partners GmbH, a German private equity firm that focuses on the acquisitions of companies in the lower mid-market in Germany. The new business would retain approximately 240 employees of the business at facilities in Bochum, Dusseldorf and Detroit.
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