Nokia (NOK) to Acquire Imaging Device Management Firm Scalado AB
Tweet Send to a FriendGet Alerts NOK Hot Sheet
Up)
Trade NOK Now!
Acquisition aimed at enhancing imaging experiences for Nokia (NYSE: NOK) Lumia devices
Nokia is announcing plans to acquire world-class imaging specialists as well as all technologies and intellectual property from Scalado AB.
"Nokia has been working with Scalado for more than ten years and they've contributed to many of our leading imaging applications," said Jo Harlow, executive vice president, Smart Devices at Nokia. "This transaction would enable us to combine our leadership in camera devices with their expertise in imaging, helping people move beyond taking pictures to capturing moments and emotions and then reliving them in many different ways."
The Lund site is planned to become a key site for Nokia's imaging software for smartphones, in addition to Nokia's existing locations in Espoo and Tampere, Finland.
"This is a great opportunity for many of our people to show their leadership in imaging and to continue to build its future," said Hokan Persson, chief executive officer of Scalado AB. "Doing this as part of Nokia, already a leader in mobile imaging, will reinforce the strength of the technologies and competences developed at Scalado. We are very excited about this opportunity, which is a natural next step in our longstanding relationship with Nokia."
The transaction, which is subject to customary closing conditions, is expected to close during the third quarter of 2012. The terms of the transaction are confidential.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Nokia is announcing plans to acquire world-class imaging specialists as well as all technologies and intellectual property from Scalado AB.
"Nokia has been working with Scalado for more than ten years and they've contributed to many of our leading imaging applications," said Jo Harlow, executive vice president, Smart Devices at Nokia. "This transaction would enable us to combine our leadership in camera devices with their expertise in imaging, helping people move beyond taking pictures to capturing moments and emotions and then reliving them in many different ways."
The Lund site is planned to become a key site for Nokia's imaging software for smartphones, in addition to Nokia's existing locations in Espoo and Tampere, Finland.
"This is a great opportunity for many of our people to show their leadership in imaging and to continue to build its future," said Hokan Persson, chief executive officer of Scalado AB. "Doing this as part of Nokia, already a leader in mobile imaging, will reinforce the strength of the technologies and competences developed at Scalado. We are very excited about this opportunity, which is a natural next step in our longstanding relationship with Nokia."
The transaction, which is subject to customary closing conditions, is expected to close during the third quarter of 2012. The terms of the transaction are confidential.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Bausch & Lomb near deal to sell to Valeant Pharmaceuticals (VRX) - WSJ
- Tween/Teen Retail Stocks on Watch After rue21 (RUE) Acquired at 23% Premium
- Clearwire Corporation (CLWR) Ramps, Trades Above $3.40/ Share
Create E-mail Alert Related Categories
Mergers and Acquisitions
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
