Nokia says Samsung accepts offer for Symbian buyout

HELSINKI Tue Sep 2, 2008 11:15am EDT

Related Topics

HELSINKI (Reuters) - Nokia said on Tuesday Samsung Electronics (005930.KS) had accepted Nokia's (NOK1V.HE) offer to buy out its stake in software firm Symbian, and Nokia now has acceptances from all Symbian shareholders to sell their shares.

"They (Samsung) 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 Inc (GOOG.O).

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.

(Reporting by Tarmo Virki; Writing by Sakari Suoninen; Editing by David Holmes)

FILED UNDER: