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 Oct 7 2008 | 01:17
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Samsung accepts Nokia offer for Symbian buyout

Updated:2008/9/5 10:55

Tags:Nokia | Google

Samsung Electronics had accepted Nokia's offer to buy out its stake in software firm Symbian, and Nokia now has acceptances from all Symbian shareholders to sell their shares, a Reuters report said.

"They have accepted it," Nokia spokesman said referring to the buyout offer.

Nokia said in June it would buy out other shareholders of UK-based smartphone software maker Symbian for $410 million and make its software royalty-free to other phone makers in response to new rivals such as Google, the Reuters report said.

Nokia will contribute Symbian's assets to the not-for-profit organization, Symbian Foundation, in which it would unite with leading handset makers, network operators and communications chipmakers to create an open-source platform.


Source:telecomasia.net

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