Phone Company To Buy Software Specialist For $410 Million
Finland-Cellular telephone giant Nokia has announced that it is increasing its share in Symbian Company from 48 percent to a controlling 52 percent interest.
Nokia plans to buy the additional stock outright at an overall cash price of about $410 million dollars.
There are a number of electronics manufacturers that are planning to join forces with Nokia to form the Symbian Foundation to pursue the development of different Web based Internet applications for their respective platforms.
Together these companies desire to form a unified framework and platform that all of the Symbian Foundation members will be able to utilize without paying any royalties.
Members outside of the Symbian Foundation may be granted conditional use of the platforms and but at a pay as you go rate schedule.
“We seek to become the largest software and most widely used electronics software platform on the planet,” said Symbian CEO Nigel Clifford, representing the new Symbian Foundation in a prepared statement.
Nokia has created several elements of its own Web based ecosystem with services and Web Applications, so joining with the Symbian Foundation is seen as the next logical step for the phone Nokia Company.