Tuesday, June 24, 2008

Nokia to Buy Phone-Software Firm - WSJ.com

Interesting times...

Finland's Nokia Corp. is acquiring the rest of United Kingdom-based Symbian Ltd., a provider of software for advanced phones, in a move that will likely increase competition for Apple Inc.

Nokia said Tuesday it has launched a cash offer for the 52% of privately owned Symbian it doesn't already own. The deal is valued at roughly €264 million ($410 million). Nokia said investors holding some 91% of the relevant Symbian shares -- including Sony Ericsson Mobile Communications AB, Sweden's Telefon AB L.M. Ericsson, Panasonic Mobile Communications Co. and Siemens AG -- had irrevocably agreed to accept the offer. Nokia said it also expects Samsung Electronics Co. to accept.

Symbian also will blend its several different flavors of cellphone software into one, to create one open-source software platform. That includes folding in user-interface software from UIQ Technology, a joint venture between Motorola and Sony Ericsson that was spun off from Symbian. UIQ's know-how includes touch-screen technology, which has been made fashionable by Apple's iPhone cellphone.

Nokia to Buy Phone-Software Firm - WSJ.com

No comments: