Nokia to buy UK’s Symbian, open software for use

Nokia to buy UK’s Symbian, open software for use
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First Published: Tue, Jun 24 2008. 03 28 PM IST
Updated: Tue, Jun 24 2008. 03 28 PM IST
Helsinki: Finnish cellphone maker Nokia Corp said on Tuesday it was buying out other shareholders of UK-based handset software firm Symbian Ltd, and opening the software for royalty-free use.
The net cash outlay from Nokia to buy the approximately 52% of Symbian shares it does not already own will be about €264 million ($410 million).
Nokia said Sony Ericsson, Ericsson, Panasonic and Siemens have accepted the offer, and it also expects Samsung Electronics to accept it.
Nokia also said it had formed Symbian Foundation together with AT&T, NTT DoCoMo, Vodafone, and chip makers Texas Instruments and STMicroelectronics.
“This will drive the development of new and compelling, web-enabled applications to delight a new generation of consumers,” Nokia Chief Executive Olli-Pekka Kallasvuo said in a statement.
Symbian has about two-thirds of the smartphone software market, and its closest rival is Microsoft’s Windows Mobile. (Reporting by Tarmo Virki; Editing by Quentin Bryar and Sue Thomas) REUTERS
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First Published: Tue, Jun 24 2008. 03 28 PM IST
More Topics: Symbian | Nokia | Acquisition | Software | Mobile Phone |