MOBILE telephone giant Nokia Corp yesterday announced a deal to take over Oslo software company Trolltech ASA with a cash offer that values the Norwegian company at nearly 844 million kroner (US$153 million).
Nokia offered 16 kroner per share, or 60 percent more than Trolltech's closing price last Friday on the Oslo stock exchange. It said 66.43 percent of the Oslo company's shareholders had already accepted the bid after Trolltech's board unanimously recommended the offer.
Trolltech, founded in 1994, provides software and application platforms used in such programs as Skype, Google Earth, and Adobe Photoshop Elements.
Finland's Nokia, which is the world's largest mobile telephone maker, said in a news release that the acquisition of Trolltech will allow it to speed up development of programs for its wireless devices and desktop systems, and bolster its Internet services.
The acquisition "will enable both Nokia and others to innovate on our device platforms while reducing time-to-market," said Kai Oistamo, Nokia's executive vice president for devices.