Nokia to buy Palm for $4.1 billion
Finnish mobile phone manufacturer, Nokia Corp (NYSE: NOK) said today it had agreed to buy US smartphone manufacturer Palm, Inc (NasdaqGS: PALM) for 4.15 billion dollars (3.14 billion euros)
“Nokia is committed to be at the forefront of mobile user interface and internet services. By joining forces with Palm, we will impliment our shared strategy of delivering innovative web experience and services through a unified, single identity user management of all user information and media to our mobile devices.” Olli-Pekka Kallasvuo, President and CEO, Nokia. “The integration of WebOS will give our consumers leading convergence devices that more than meet and exceed consumer expectations.”
California-based Palm, Inc will be launching the Palm Pre at the end of the month, the first and last Palm device to feature WebOS.
The acquisition is expected to close in the third quarter of 2009.
http://www.reuters.com/article/rbssTechMediaTelecomNews/idOFLO0104L20RI0A9lP
Category: Aquisitions
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