Nokia signs agreement to sell security appliance business to Check Point Software Technologies

Nokia announced today that it has signed an agreement for Check Point Software Technologies to acquire Nokia’s security appliance business. The companies signed the deal on December 21, 2008. The two businesses have collaborated for over a decade to deliver industry-leading enterprise security solutions, and this agreement is the natural culmination of that long-standing collaboration.

This deal is one of the actions to focus the Services and Software unit’s portfolio on five core consumer internet services with the best consumer appeal and financial viability. Nokia announced on September 29, 2008 that it was in advanced stages to sell the security appliance business to a financial investor. However, unprecedented financial market conditions in recent months extended those negotiations, during which time Nokia actively evaluated other options for the business.

“The strong fundamentals of the business have always made it an attractive target for a number of buyers. The announcement today represents the fact that multiple and complex negotiations have culminated in a successful agreement with Check Point, the natural home for this business and a great option for moving the business forward,” says Tom Furlong, head of Consumer Messaging at Nokia.

“Check Point and Nokia form a natural combination, which will provide a great path forward for the thousands of customers who depend on Nokia security solutions today,” says Greg Podshadley, head of the security appliance business at Nokia. “For employees, it means an opportunity to be a part of one of the industry leading brands in security solutions.