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Nokia to acquire Psion shares in Symbian
Posted on 9-Feb-2004 20:51 | Tags Filed under: News

Nokia has announced that it has started the process of enabling the transfer of Psion's shares in Symbian to Nokia. Symbian, owned by a group of mobile industry players, will continue to pursue licensing business of the Symbian operating system (OS).

The value of the transaction will derive from two parts: a fixed portion of 93.5 million, and a variable payment of 0.84 from Nokia to Psion for each Symbian OS device sold during 2004 and 2005. Upon completion of the transaction, Nokia estimates that its share in Symbian will increase from the current 32.2% up to approximately 63.3%.

"With its advanced and robust operating system, strong customer base and good relationships with operators, Symbian has successfully fulfilled the demanding technical requirements of mobile devices and the diverse needs of the market. It is vital to sustain Symbian's long-term market success in order to enable healthy competition in the OS market and to stimulate innovation throughout the value chain," said Pertti Korhonen, Chief Technology Officer, Nokia.

"The Symbian OS has proven its flexibility as an OS platform capable of supporting the demanding needs of the industry. Good examples include the UIQ software platform, the Series 60 Platform, the FOMA UI (user interface) and a number of vendor specific implementations - all running on top of the Symbian platform. This flexibility has resulted in a rich variety of advanced mobile devices enabling both handset manufacturers and operators to differentiate their offerings," he continued.

Psion has decided to focus on developing Psion Teklogix.

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