LONDON — ICL, a British computer maker controlled by Fujitsu Ltd., will buy Nokia Data, the information systems arm of Finland's Nokia Corp., the companies announced Wednesday.
Japanese computer maker Fujitsu owns 80% of ICL and Northern Telecom of Canada 20%.
ICL and Nokia said the resulting company--to be known as ICL Nokia Data in Scandinavia and ICL elsewhere--will employ 24,000 worldwide and have sales of about $4 billion.
The deal, to be completed by Sept. 30, is subject to approval by European Commission regulatory authorities. ICL will pay Nokia $400 million for Nokia Data, stock of it in stock.
The arrangement will leave Nokia with a 5% stake in ICL, and Nokia Chief Executive Kalle Isokallio will have a seat on ICL's board.