Nokia expands by acquiring smarterphone portfolio

Nokia just bought out a smartphone software solutions company called Smarterphone.

what is smarterphone?
Smarterphone is unique in offering a truly complete solution for mobile phone software. Smarterphone not only offers the complete software, we also handle any desired customization. We take the software through all project phases, up to and including FTA and operator homologation, and in this manner we can offer the shortest time-to-market, lowest risk and lowest total cost.
Smarterphone 3.0 is an all-encompassing mobile operating system for wireless handsets, allowing OEMs and ODMs to bring new, highly competitive devices to the market quickly and at low cost. Smarterphone 3.0 includes a state of the art application suite, connecting the top-layer applications with the underlying platform, targeting major carrier's strictest requirements.
The company was previously called Kvaleberg, and the product Mimiria. We changed to Smarterphone simply because we want to signal that we offer a smarter solution. Compared to conventional smartphones, our solution offers unique possibilities for differentiation, much lower handset BOM and total cost, and a truly integrated user experience of the connected phone, combining all electronic communication needs in one device.

Smarterphone is a portfolio company under Ferd Capital and they released an official statement regarding the acquisition:

05.01.2012
Ferd Capital has sold its portfolio company Smarterphone AS (Formerly Kvaleberg AS) to Nokia Corporation (OMX: NOK1V, NYSE:NOK, FWB: NOA3), the world’s leading producer of mobile phones. The transaction was completed in November 2011.
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 unique flexibility for tailoring handset software to different markets. Ferd Capital invested in the company in 2007 and has invested a total of 6,5 MEUR 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.
“Ferd Capital is an active Nordic investor in both the venture and buy-out segments of private equity and see continued strong opportunities within both segments” says Bjørn Erik Reinseth, Partner in Ferd Capital. “Large international players acquiring Norwegian technology companies is a strong recognition and a good foundation for future innovation and growth “, continues Reinseth.
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.


This is a nice move considering Nokia's reach the next billion project announced by Elop last year, with Meltemi and Smarterphone possibly merging, we will expect to see a finished product by the end of the year?
This acquisition also further squashes any rumours of a microsoft takeover, because for Nokia to buy and strengthen their portfolio in this manner only shows they are in a strong position financially.


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