Accenture buys Nokia Siemens' IPTV assets

Accenture Plc

Terms of the transaction were not disclosed. Accenture said the newly acquired IPTV software, assets and capabilities will be part of its video solutions business that helps companies launch video services at a low cost.

Internet protocol television uses the same technology that powers the Internet to transmit multimedia content over telecom and cable networks.

Accenture buys Nokia Siemens' IPTV assets to bolster online video capabilities

Nokia Siemens Networks, a 50-50 joint venture between Nokia Oyj

Nokia Siemens, formed in 2007, is in the middle of a cost-cutting plan that includes laying off a quarter of its staff and selling certain product lines to focus on mobile broadband.

Accenture shares were up 10 cents at $70.13 on the Nasdaq on Monday. The stock touched a life high of $70.97 earlier in the session.

Reuters