Mergers and Acquistions News
Categories: Telecoms
November 26th 2008, 17:14PM
Mobile phone manufacturer Nokia has said that its acquisition of Symbian is on couse to be completed by the end of this year.
The company first announced its intention to buy the UK mobile software firm for €264 million (£222.6 million) in June this year.
Speaking to Reuters at the Business Week European Leadership Forum, Nokia chief development officer Mary McDowell said the deal was "on track" for closure in 2008.
She added that Nokia hoped to boost sales of smartphones as a result of its move into the internet services sector through the purchase of Symbian.
"Clearly internet services represent a revenue growth opportunity, (but it is) also a basis of competition in high-end devices," Ms McDowell said.
The acquisition will result in the foundation of the Symbian Foundation in partnership with a number of organisations including AT&T, LG Electronics and Motorola.
This foundation will make the Symbian mobile platform available to members under a royalty-free licence.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)