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Monday, January 9, 2012

Nokia Buys Feature Phone OS Developer

Nokia has bought the mobile phone OS developer, Smarterphone for an undisclosed amount. The company was privately held and backed by Ferd Capital.
Smarterphone is based in Oslo, Norway and delivers an operating system for the feature phone segment of mobile handsets. The software makes it possible to deliver a user experience similar to smart phones on affordable hardware, and allows flexibility for tailoring handset software to different markets.
Ferd Capitalsays that it invested in the company in 2007 and has invested a total of EUR6.5 million in the company.
"Egil Kvaleberg is a world class software architect and founder. His internationally recruited and unique team situated in Oslo has created an operating system for lower end mobile phone that provides highly advanced functionality on very moderate hardware" says Annar Bohn, Investment manager in Ferd Capital. "Our belief in the team, technology and the long term market for feature phones remains firm, and we believe the company has now found a fantastic new home with Nokia", he continues.
In addition to Ferd Capital, The company was also financed by Innovation Norway, Haavard Nord (Trolltech founder) and Lars Øberg. Carnegie acted as advisor to the selling shareholders.

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