Nokia on Tuesday announced it plans to acquire all of Symbian, which develops an operating system for mobile phones. The Finnish phone giant currently owns about 48 percent and will pay €264 million ($410 million) for the rest. It has received thumbs up from Sony Ericsson, Ericsson, Panasonic Mobile Communications, and Siemens, which represents about 91 percent of the Symbian shares subject to the offer, according to a statement from Nokia.
Samsung Electronics, a partial stakeholder in Symbian, hasn't commented yet, but Nokia said it expects the company to agree to the sale. The deal doesn't come as a surprise to Geoff Blaber, an analyst at CCS Insight. "Nokia paid out more than $250 million in Symbian license fees last year, so it makes commercial sense to buy Symbian for about $410 million, rather than keep paying what is effectively a subsidy to the other shareholders," Blaber wrote in a company blog.
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06-24-2008, 08:02 PM
Nokia buys rest of Symbian, will make code open source
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