Nokia Buys Trolltech

Trolltech's Qt-based technology assets facilitate application development for multiple platforms and devices

January 28, 2008

2 Min Read

ESPOO, Finland and OSLO, Norway -- Nokia (NYSE:NOK) and Trolltech ASA today announced that they have entered into an agreement that Nokia will make a public voluntary tender offer to acquire Trolltech (, a company headquartered in Oslo, Norway and publicly listed on the Oslo Stock Exchange. Trolltech is a recognized software provider with world-class software development platforms and frameworks. In addition to the key software assets, its talented team will play an important role in accelerating the implementation of Nokia's softwarestrategy.

Nokia will offer NOK 16 per share in cash. The board of directors ofTrolltech has unanimously recommended that its shareholders accept Nokia'sOffer. Holders of 35,024,830 shares, representing approximately 66,43 % ofTrolltech's issued shares and votes have as of January 27, 2008 irrevocablyundertaken to accept the Offer. Haavard Nord, Vuonislahti Invest AS(controlled by Eirik Chambe-Eng), Teknoinvest and certain funds managed byIndex Ventures are among the shareholders who have agreed to tender theirshares to Nokia.

The acquisition of Trolltech will enable Nokia to accelerate itscross-platform software strategy for mobile devices and desktopapplications,and develop its Internet services business. With Trolltech, Nokia and thirdparty developers will be able to develop applications that work in theInternet, across Nokia's device portfolio and on PCs. Nokia's softwarestrategy for devices is based on cross-platform development environments,layers of software that run across operating systems, enabling thedevelopment of applications across the Nokia device range. Examples ofcurrent cross-platform layers are Web runtime, Flash, Java and Open C.

"The technology landscape evolves and, for Nokia, software plays a majorrole in our growth strategy for devices, PCs and the integration with theInternet. We continue to focus on areas where we can differentiate and addmore value. Common cross-platform layers on top of our software platformsattract innovation and enable Web 2.0 technologies in the mobile space,"saidKai Oistamo, Executive Vice President, Devices, Nokia. "Trolltech's deepunderstanding of open source software and its strong technology assets willenable both Nokia and others to innovate on our device platforms whilereducing time-to-market. This acquisition will also further increase thecompetitiveness of S60 and Series 40."

Nokia aims to continue the development of Trolltech's products andsupport of new and existing customers. Nokia strives for an open approach totechnology that will encourage and support innovation in the industry,enablefast adoption of new technologies and advance healthy competition. Nokiaembraces open source technology and will take further the open sourcedevelopment culture found in Trolltech.

"Trolltech and Nokia share the goal of accelerating the adoption ofTrolltech's Qt based technology in the commercial market and in the opensource community," said Haavard Nord, CEO and founder of Trolltech. EirikChambe-Eng, Chief Troll and co-founder of Trolltech continues "We arethrilled to join forces with Nokia. The company's innovative culture andresources will give our employees new and exciting possibilities and fulfillour vision of "Qt everywhere"."

Nokia Corp. (NYSE: NOK)

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