- Nokia is selling its Enterprise Campus Edge private 5G business to private equity firm Aurelius
- ECE serves nearly 900 customers and employs about 1,000 people
- The purchase price was not disclosed; the deal is expected to close in the first half of 2027
Nokia is selling its Enterprise Campus Edge (ECE) private 5G wireless business to private equity firm Aurelius. Terms were not disclosed.
Nokia's ECE is a well-entrenched leader in the private wireless space, serving nearly 900 customers worldwide across industries like energy, mining, manufacturing, logistics, airports and ports.
But Nokia announced in November 2025 that it was interested in offloading the unit, in part so it can focus on bigger mission critical, i.e., profitable, contracts like those in the defense, railways and utility industries.
Plus, offloading the unit, which includes 100+ customers, satisfies another desire within Nokia: not competing with its own carrier customers that are trying to sell private 5G solutions to these same types of enterprises.
In a press release, Nokia described it as a way to direct its own resources toward areas with “the greatest long-term value.”
“This planned transaction supports Nokia’s strategy to sharpen its portfolio and direct capital and resources to the areas where it can create the greatest long-term value,” said Nokia Chief Corporate Development Officer Konstanty Owczarek in a statement. “Our priority throughout the transition will be continued growth of the business and continuity for existing customers and employees.”
Who is the buyer, Aurelius?
Aurelius is a global private equity investor that sees significant opportunities for ECE to grow as a stand-alone business.
“ECE is a promising investment for Aurelius Opportunities Fund V that fits well into our investment approach of acquiring global corporate carve-outs with improvement potential. We aim to complete around six investments a year, and this planned transaction puts us well on track to achieve this target for 2026,” said Andrzej Cebrat, managing director at Aurelius Funds IV and V, in a statement.
The business employs about 1,000 people worldwide, with operations in Finland, the U.S., Hungary and India generating annual sales of more than $190 million from its markets in Europe, North and South America, APAC and the Middle East.
The companies didn’t say exactly how many of the employees will be transferring to Aurelius, other than ECE employees are expected to transfer with the business at closing “in accordance with applicable laws and processes,” according to the Aurelius press release.
The companies anticipate the transaction will close in the first half of 2027, subject to customary closing conditions.
What are analysts are saying about the Nokia/Aurelius deal?
On social media, analysts noted various implications of Nokia’s strategy.
For one, it confirms Nokia’s continued focus on fiber, data centers and AI, rather than “the fringes of mobile (it also sold its FWA assets),” said Dean Bubley, founder of Disruptive Analysis, on LinkedIn.
For another, it gives customers some measure of predictability, although a private equity firm likely will want an exit itself at some point, he said.
“I think it’s wrong to say that Nokia is refocusing back on MNOs, as it is also clearly still aggressively chasing cloud/AI and sovereignty/critical opportunities,” Bubley said. “This probably makes good strategic sense. Some people will doubtless mutter about private wireless being less successful than certain (overhyped) forecasts had predicted – but they tend to be the same people who think that private cellular began 5 years ago rather than 25,” he said.
Sebastion Barros, managing director at Circles, said the funny thing is that “private networks are real, the market keeps growing, and Nokia is a leader in it.”
So, he posited: Why would Nokia walk away from a growing market where it has spent years building a leadership position?
“I think it is the right move. And probably a very brave one, because a growing market does not necessarily mean a great business,” he said on LinkedIn.
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