Nokia acquires Trolltech for $153m

Nokia announced a deal to take over Oslo software company Trolltech with a cash offer that values the Norwegian company at nearly $153 million, an Associated Press report said.

The Associated Press report said Nokia offered $2.91 per share, or 60% more that Trolltech's closing price on the Oslo stock exchange. It said 66.43% of the Oslo company's shareholders had already accepted the bid after Trolltech's board unanimously recommended the offer, the Associated Press report further said.

Trolltech, founded in 1994, provides software and application platforms used in such programs as eBay's Skype, Google Earth, and Adobe Systems's Photoshop Elements.

Finland's Nokia, which is the world's largest mobile telephone maker, said in a news release that the acquisition of Trolltech will allow it to speed up development of programs for its wireless devices and desktop systems, and bolster its internet services.