TORONTO, ON, JANUARY 1, 2019 – Volaris today announced the successful completion of the purchase of the majority of Nokia’s IP Video business. This acquisition was originally announced September 13, 2018.
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.
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. Learn more at www.volarisgroup.com.
Elliot Yunger serves as the Director of Business Development of the Communications & Media Portfolio. Before joining Volaris Group, Elliot worked for Cyhawk Ventures, a Tel Aviv based Venture Capital firm in sales organization for multiple businesses. Once returning to Toronto, he joined up with the Volaris Group to help accelerate growth across multiple verticals before specializing within the Communications & Media portfolio. Elliot has helped to lead multiple acquisitions and integrations for Volaris Group and has worked in Singapore, India and Tel Aviv.
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