Fox Williams advised Volaris Group Inc. on its acquisition of the Nokia Video Product business to form a new Volaris operating company Velocix, a leading provider of video streaming technology.
This acquisition, which was originally announced in September 2018, was completed last month. Nokia’s Video Product line provides software and services to help video operators deliver video content to subscribers and includes caching, streaming, origin and personalization solutions. Velocix customers include tier-one operators worldwide including some of the largest global communications service providers operating in multiple countries.
Nokia will remain a minority shareholder in the new pure play streaming technology company, Velocix, operating as an independent business within Volaris Group’s Communications & Media portfolio. Financial details of the sale are not being disclosed.
Working closely with the Volaris in-house team, the Fox Williams team comprised head of corporate Richie Clark, corporate partner Mary Elliott, corporate associates Charlotte Eliasson and Freddie De Boise, as well as David Murphy, Tom Pennington-Hare and Daisy Jones (employment), Emma Bailey and Joanne Varia (tax), Nigel Miller and Arjun Majumdar (data protection), and Scott Keown and Rebecca Facey (real estate).
Richie Clark said: “We were delighted to help Volaris build on its impressive platform in the media vertical by successfully completing this significant strategic transaction.”
About Volaris Group
Volaris acquires, strengthens and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions.