Nokia acquires Scalado, sells Vertu to EQT VI and plans to cut 10,000 jobs WorldWide!

 

Nokia today in Finland announced a range of planned actions aimed at sharpening its strategy, improving its operating model and returning the company to profitable growth. Most of the planning is to significantly reduce its operating expenses.

 

  • Reductions within certain research and development projects, resulting in the planned closure of its facilities in Ulm, Germany and Burnaby, Canada;
  • Consolidation of certain manufacturing operations, resulting in the planned closure of its manufacturing facility in Salo, Finland. Research and Development efforts in Salo to continue;
  • Focusing of marketing and sales activities, including prioritizing key markets;
  • Streamlining of IT, corporate and support functions; and
  • Reductions related to non-core assets, including possible divestments.

 

 

As a result of the planned changes announced today, Nokia plans to reduce up to 10,000 positions globally by the end of 2013. Nokia is beginning the process of engaging with employee representatives in accordance with country-specific legal requirements.

 

 

Nokia has agreed terms for EQT VI, part of the leading private equity group in Northern Europe, to acquire Vertu, the global leader in luxury mobile phones, from Nokia.

 

 

 

Nokia today announced that they are acquiring Scalado as a part of new strategy. Scalado is well known for its famous imaging technologies, imaging softwares and also for the recently announced timeline lens photo in BlackBerry 10.

 

Official Press Release from Nokia :

 

Espoo, Finland and Lund, Sweden: 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 HÃ¥kan 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.

 

 

 

  • http://www.nikond3100review.co.uk/ nikond3100review

    Selling Vertu is a good decision