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Nokia to buy Norway's Trolltech for 843 mln nkr UPDATE

Posted in : It Gossips

(added few years ago!)

- Nokia  (nyse: NOK -  news  -  people ) said it has tabled a 16 nkr-per-share bid to buy Trolltech ASA, a Norway-based software provider, to help it bolster its fast-expanding internet services business.

Trolltech's board has recommended the offer, and shareholders holding two-thirds of Trolltech stock already have said they will sell up, Nokia said.

The bid values the company at around 843 mln nkr, or 105 mln eur, and represents a premium of 6 nkr per share to Trolltech's closing price in Oslo on Friday.

The world's top mobile device maker said shareholders, including Haavard Nord, Vuonislahti Invest AS, Teknoinvest and funds managed by Index Ventures, have agreed to tender their shares.

Kai Oistamo, who heads up Nokia's devices unit, said: 'Trolltech's deep understanding of open-source software and its strong technology assets will enable both Nokia and others to innovate on our device platforms while reducing time-to-market.'

The acquisition is subject to regulatory approval and acceptance by shareholders holding over 90 pct of Trolltech's share capital.

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(added few years ago!) / 184 views