HELSINKI, Finland -- Motorola Inc., a minority shareholder in mobile phone operating system company Symbian Ltd. through it's U.K. subsidiary, is to transfer its holding to co-shareholders Nokia Oy and Psion plc, said Nokia Friday (August 29, 2003).
On completion of the transaction, Nokia said its shareholding in Symbian would increase from approximately 19 percent up to approximately 32 percent and Psion is anticipated to increase its ownership to approximately 31 percent. The proposed transfer will not affect Motorola's existing licensing arrangement with Symbian, Nokia said.
The transaction implies a value for Symbian of about $465 million.
"As a Symbian licensee, Motorola will continue to support the Symbian OS for specific customer and business needs, such as in our 3G devices. However, our primary software focus for the mass market will stay centered on Java, which is also supported by Symbian. We believe Java is what ultimately provides our customers worldwide with the most optimized and differentiated mobile experiences," said Scott Durchslag, corporate vice president of Motorola's personal communications sector.
The intended transactions are subject to a clearance by German Federal Cartel Office and to a pre-emption procedure among the other shareholders of Symbian. The transaction is expected to complete with a few weeks.