M&A Deal Summary

Nokia Acquires Fenix Group

On December 12, 2023, Nokia acquired defense company Fenix Group from Enlightenment Capital

Acquisition Highlights
  • This is Nokia’s 1st transaction in the Defense sector.
  • This is Nokia’s 17th transaction in the United States.
  • This is Nokia’s 1st transaction in Virginia.

M&A Deal Summary
Date 2023-12-12
Target Fenix Group
Sector Defense
Buyer(s) Nokia
Sellers(s) Enlightenment Capital
Deal Type Add-on Acquisition

Target

Fenix Group

Chantilly, Virginia, United States
Fenix Group supplies equipment and services for handheld communication devices and broadband networks in support of the Department of Defense and the intelligence community. Fenix Group was founded in 2016 and is based in Chantilly, Virginia.

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Buyer(S) 1

Buyer

Nokia

Espoo, Finland
Category Company
Founded 1865
Sector Communications
Employees86,689
Revenue 22.3B EUR (2023)
DESCRIPTION

Nokia is a Finnish communications and information technology multinational corporation. Nokia was founded in 1865 and is based in Espoo, Finland.

DEAL STATS #
Overall 28 of 29
Sector (Defense) 1 of 1
Type (Add-on Acquisition) 26 of 27
State (Virginia) 1 of 1
Country (United States) 17 of 18
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-29 Gainspeed

Sunnyvale, California, United States

Gainspeed is a provider of Virtual CCAP (Converged Cable Access Platform) products that include support for Distributed Access Architecture (DAA). The company allows high-bandwidth data transfer to cable television systems. It also includes a DAA video engine and a chassis-based EPON/DPoE solution for non-HFC network implementations.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-20 Nokia - Device Management and Service Management Platform businesses

Finland

Nokia’s Device Management software capabilities help communication service providers remotely manage home broadband access devices, as well as IoT sensors and devices from a variety of different vendors; while the Nokia’s Service Management Platform improves customer care service, with coverage spanning more than 150 deployments worldwide and more than 1 billion devices under management.

Sell -

Seller(S) 1

SELLER

Enlightenment Capital

Chevy Chase, Maryland, United States
Category Private Equity Firm
Founded 2012
Size Middle-Market
Type Sector Focused
DESCRIPTION

Enlightenment Capital is a private investment firm that provides flexible capital solutions and strategic support to middle-market businesses in the Aerospace, Defense, Government & Technology (ADG&T) sector. The firm invests in equity (minority and control), senior debt, and mezzanine debt. Enlightenment Capital was founded in 2012 and is headquartered in Chevy Chase, Maryland.

DEAL STATS #
Overall 16 of 16
Sector (Defense) 1 of 1
Type (Add-on Acquisition) 11 of 11
State (Virginia) 8 of 8
Country (United States) 16 of 16
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 Infinite ID

Hicksville, New York, United States

Infinite ID is a digital identity authentication solutions company that provides deep national security, law enforcement, disaster response, and corporate expertise to solve next-generation identity and security challenges. The company designs advanced software, data, and integration solutions for complex scenarios where biometric identification and authentication are critical to security. Infinite ID is based in Hicksville, New York.

Sell $41M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-21 Ridgeline International

Tysons Corner, Virginia, United States

Ridgeline International is a provider of intelligence and cybersecurity technologies that work to control data and defend against surveillance. Ridgeline International is based in Tysons Corner, Virginia.

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