Nokia to acquire all of Symbian — MobileMonday Global: Industry News

^{Buys the remaining 52 percent} Nokia to acquire all of Symbian

Nokia N93 Golf Edition is one of the phones using the Sym´bian OS.

24 Jun 2008 at 18:42 GMT Timo Poropudas

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 net cash outlay from Nokia to purchase the approximately 52% of Symbian Limited shares it does not already own will be approximately EUR 264 million.

Nokia has received irrevocable undertakings from Sony Ericsson Mobile Communications AB, Telefonaktiebolaget LM Ericsson (publ), Panasonic Mobile Communications Co. Ltd. and Siemens International Holding BV to accept the offer, representing approximately 91% of the Symbian shares subject to the offer. Nokia also expects Samsung Electronics Co. Ltd. to accept the offer.

The acquisition is a fundamental step in the establishment of the Symbian Foundation, announced today by Nokia, together with AT&T, LG Electronics, Motorola, NTT DOCOMO, Samsung, Sony Ericsson, STMicroelectronics, Texas Instruments and Vodafone. More information about the planned foundation can be found at www.symbianfoundation.org.

"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. User interfaces designed for Symbian OS include S60 from Nokia, MOAP (S) for the 3G network and UIQ, designed by UIQ Technology, a joint venture between Motorola and Sony Ericsson. A privately-owned company established in 1998, Symbian has its headquarters in London, UK and other offices in the United Kingdom, United States and Asia (Bangalore, Beijing, Seoul and Tokyo).