Nokia Acquires Novarra

March 26, 2010

ESPOO, Finland, March 26, 2010 /PRNewswire-FirstCall/ — Nokia (NYSE:
NOK) today announced it has signed an agreement to acquire 100% of the
outstanding shares of Novarra, Inc., a privately-held company based in
Chicago, IL. Novarra is a provider of a mobile browser and service platform
and has more than 100 employees. Novarra’s mobile browser and services
platform will be used by Nokia to deliver enhanced Internet experiences on
Nokia mobile devices. Novarra has deployed their solution with leading mobile
operator and internet services customers globally.

“Connecting the next billion consumers to the Internet will happen
primarily on mobile devices,” said Niklas Savander, Executive Vice President,
Services, Nokia, “and delivering an optimized internet experience on our
devices is core to our mission. By driving innovation in all segments of our
portfolio, we are building one of the largest consumer audiences for web
services and content. Novarra’s Internet services technology delivered on the
world’s most widely-used mobile platform, Nokia’s Series 40, will help us
achieve this.”

Nokia expects a new service offering utilizing the Novarra technology
platform to be available later this year. The acquisition is expected to
close in the second quarter of 2010, and is subject to the customary closing
conditions, including regulatory reviews. Following the acquisition, Novarra
will become a wholly-owned subsidiary of Nokia.

About Nokia

At Nokia, we are committed to connecting people. We combine advanced
technology with personalized services that enable people to stay close to
what matters to them. Every day, more than 1.2 billion people connect to one
another with a Nokia device – from mobile phones to advanced smartphones and
high-performance mobile computers. Today, Nokia is integrating its devices
with innovative services through Ovi (http://www.ovi.com), including music,
maps, apps, email and more. Nokia’s NAVTEQ is a leader in comprehensive
digital mapping and navigation services, while Nokia Siemens Networks
provides equipment, services and solutions for communications networks

About Novarra

Novarra, the Internet Mobility company, provides high performance mobile
internet browsers and platforms for operators, handset manufacturers and
internet brands to create new services and revenue streams for smartphones,
features phones and mobile broadband devices. The solutions deliver a high
quality mobile user experience for services including full rich web browsing,
search, widgets, apps, video and advertising. Global, commercial deployments
over eight years have proven consumer satisfaction, uptake and increased data
service revenues. http://www.novarra.com/

FORWARD-LOOKING STATEMENTS It should be noted that certain statements
herein which are not historical facts are forward-looking statements,
including, without limitation, those regarding: A) the timing of the
deliveries of our products and services and their combinations; B) our
ability to develop, implement and commercialize new technologies, products
and services and their combinations; C) expectations regarding market
developments and structural changes; D) expectations and targets regarding
our industry volumes, market share, prices, net sales and margins of products
and services and their combinations; E) expectations and targets regarding
our operational priorities and results of operations; F) the outcome of
pending and threatened litigation; G) expectations regarding the successful
completion of acquisitions or restructurings on a timely basis and our
ability to achieve the financial and operational targets set in connection
with any such acquisition or restructuring; and H) statements preceded by
“believe,” “expect,” “anticipate,” “foresee,” “target,” “estimate,”
“designed,” “plans,” “will” or similar expressions. These statements are
based on management’s best assumptions and beliefs in light of the
information currently available to it. Because they involve risks and
uncertainties, actual results may differ materially from the results that we
currently expect. Factors that could cause these differences include, but are
not limited to: 1) the competitiveness and quality of our portfolio of
products and services and their combinations; 2) our ability to timely and
successfully develop or otherwise acquire the appropriate technologies and
commercialize them as new advanced products and services and their
combinations, including our ability to attract application developers and
content providers to develop applications and provide content for use in our
devices; 3) our ability to effectively, timely and profitably adapt our
business and operations to the requirements of the converged mobile device
market and the services market; 4) the intensity of competition in the
various markets where we do business and our ability to maintain or improve
our market position or respond successfully to changes in the competitive
environment; 5) the occurrence of any actual or even alleged defects or other
quality, safety or security issues in our products and services and their
combinations; 6) the development of the mobile and fixed communications
industry and general economic conditions globally and regionally; 7) our
ability to successfully manage costs; 8) exchange rate fluctuations,
including, in particular, fluctuations between the euro, which is our
reporting currency, and the US dollar, the Japanese yen and the Chinese yuan,
as well as certain other currencies; 9) the success, financial condition and
performance of our suppliers, collaboration partners and customers; 10) our
ability to source sufficient amounts of fully functional components,
sub-assemblies, software, applications and content without interruption and
at acceptable prices and quality; 11) our success in collaboration
arrangements with third parties relating to the development of new
technologies, products and services, including applications and content; 12)
our ability to manage efficiently our manufacturing and logistics, as well as
to ensure the quality, safety, security and timely delivery of our products
and services and their combinations; 13) our ability to manage our inventory
and timely adapt our supply to meet changing demands for our products; 14)
our ability to protect the complex technologies, which we or others develop
or that we license, from claims that we have infringed third parties’
intellectual property rights, as well as our unrestricted use on commercially
acceptable terms of certain technologies in our products and services and
their combinations; 15) our ability to protect numerous Nokia, NAVTEQ and
Nokia Siemens Networks patented, standardized or proprietary technologies
from third-party infringement or actions to invalidate the intellectual
property rights of these technologies; 16) the impact of changes in
government policies, trade policies, laws or regulations and economic or
political turmoil in countries where our assets are located and we do
business; 17) any disruption to information technology systems and networks
that our operations rely on; 18) our ability to retain, motivate, develop and
recruit appropriately skilled employees; 19) unfavorable outcome of
litigations; 20) allegations of possible health risks from electromagnetic
fields generated by base stations and mobile devices and lawsuits related to
them, regardless of merit; 21) our ability to achieve targeted costs
reductions and increase profitability in Nokia Siemens Networks and to
effectively and timely execute related restructuring measures; 22)
developments under large, multi-year contracts or in relation to major
customers in the networks infrastructure and related services business; 23)
the management of our customer financing exposure, particularly in the
networks infrastructure and related services business; 24) whether ongoing or
any additional governmental investigations into alleged violations of law by
some former employees of Siemens AG (“Siemens”) may involve and affect the
carrier-related assets and employees transferred by Siemens to Nokia Siemens
Networks; 25) any impairment of Nokia Siemens Networks customer relationships
resulting from ongoing or any additional governmental investigations
involving the Siemens carrier-related operations transferred to Nokia Siemens
Networks; as well as the risk factors specified on pages 11-32 of Nokia’s
annual report Form 20-F for the year ended December 31, 2009 under Item 3D.
“Risk Factors.” Other unknown or unpredictable factors or underlying
assumptions subsequently proving to be incorrect could cause actual results
to differ materially from those in the forward-looking statements. Nokia does
not undertake any obligation to publicly update or revise forward-looking
statements, whether as a result of new information, future events or
otherwise, except to the extent legally required.


SOURCE Nokia Corporation

Source: newswire

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