Nokia makes offer to acquire Symbian Limited
24 June 2008
Nokia today announced it has launched a cash offer to acquire all of the shares of Symbian Limited that Nokia does not already own, at a price of EUR 3.647 per share.
The proposed acquisition will entail the purchase of approximately 52% of Symbian Limited shares, to the value of approximately EUR 264 million.
The acquisition is a fundamental step in the establishment of the Symbian Foundation (http://www.symbianfoundation.org), announced today by Nokia, together with AT&T, LG Electronics, Motorola, NTT DOCOMO, Samsung, Sony Ericsson, STMicroelectronics, Texas Instruments and Vodafone.
"This is a significant milestone in our software strategy" said Olli-Pekka Kallasvuo, CEO of Nokia.
"Symbian is already the leading open platform for mobile devices. Through this acquisition and the establishment of the Symbian Foundation, it will undisputedly be the most attractive platform for mobile innovation. This will drive the development of new and compelling, web-enabled applications to delight a new generation of consumers."
Symbian Limited is the software company that develops and licenses Symbian OS, the market-leading open operating system for mobile devices.
According to Canalys, 12 months to Q1 2008, mobile devices based on Symbian OS account for 60% of the converged mobile device segment.
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