Nokia to acquire Symbian Limited to enable evolution of the leading open mobile platform

by: Bena Roberts Tuesday, June 24th, 2008

Nokia has made a cash bid for Symbian Limited

Nokia 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.

What we think?

One leader, collaboration will make Symbian leaner and more competitive.