Nokia sells Oulu campus for $40.8 million

Nokia has been going through some tough times lately. Battered from hard battles against Apple and Google the one dominant player in the mobile market, Nokia is now very slowly regaining its lost marketshare.  And even though last quarter they saw a comeback to profitability it is still not enough for the Finnish company.

Continuing to offload assets in a bid for liquidity Nokia announced it has sold its Peltola campus to a domestic business space provider, Technopolis for €30.5 million ($40.8 million). The campus is set in the Finnish town of Oulu. According to this deal Technopolis will acquire 37,600 square meters of office space but Nokia will lease back almost half of that on a long-term lease.

This deal closely mirrors the one from late last year with Exilion in which Nokia sold their Espoo headquarters for 170 million euros and then leased it back. It’s worth noting that this is not the first time Nokia has worked with Technopolis, the two companies having collaborated a few years back to help strengthen the ICT sector and generate competitive international business through an investment fund.

Source: GlobeNewsWire

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