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Nokia did not buy Psion outright in 2004, and it did not take full ownership of Symbian then. It bought part of Psion’s Symbian stake, lifting its holding from 32.2% to 47.9% for €102 million (£70 million). Other shareholders remained involved. Nokia completed its acquisition of Symbian in December 2008.
What did Nokia buy from Psion in 2004?
Nokia bought part of Psion plc’s shares in Symbian, the UK-based company developing and licensing the Symbian operating system. The transaction raised Nokia’s ownership from 32.2% to 47.9%; it was a purchase of a stake in Symbian, not a purchase of Psion itself or of all of Symbian.
Nokia’s 2005 Form 20-F, reporting its 2004 results, records the purchase price as €102 million (£70 million). Nokia paid €68 million (£47 million) in cash, with the balance due as contingent consideration in 2005 and 2006. Separately, Nokia took part in a €73 million (£50 million) Symbian rights issue in proportion to its holding.
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The share transfer process began in February 2004 and was expected to complete on 12 July. Continuing shareholders had pre-emption rights, and Nokia, Panasonic, Siemens and Sony Ericsson agreed to participate. That process, together with the rights issue, is why the 2004 transaction should not be described as a full takeover.
Who owned Symbian before Nokia’s stake increased?
Symbian began in June 1998 as a joint venture among Psion, Nokia and Ericsson. Its purpose was to develop and license an operating system for wireless information devices based on Psion’s EPOC32 platform. At formation, Psion held 40%, while Nokia and Ericsson each held 30%.
Motorola joined in October 1998 through a share subscription. The approximate ownership then became Psion 30.77%, and Nokia, Ericsson and Motorola 23.08% each. In 2003, Nokia and Psion began procedures to transfer Motorola’s shares to Nokia. Nokia expected its holding to rise from about 19% to about 32%, with Psion holding about 31%—the ownership position preceding Nokia’s 2004 purchase from Psion.
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When did Nokia take full ownership of Symbian?
Nokia completed its offer for Symbian on 2 December 2008. Valid acceptances covered more than 99.9% of the Symbian shares Nokia did not already own. Nokia’s 2008 Form 20-F reports a staged acquisition cost of €641 million: €435 million in cash, €6 million in directly attributable costs and €200 million representing earlier investments. Symbian employees were planned to become Nokia employees on 1 February 2009.
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Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →| Transaction | Ownership acquired | Structure and consideration | Outcome |
|---|---|---|---|
| 2004 purchase from Psion | Nokia’s holding rose from 32.2% to 47.9%. | €102 million (£70 million) for part of Psion’s stake, with shareholder pre-emption rights; Nokia also joined a €73 million (£50 million) rights issue. Figures reported by Nokia’s 2005 Form 20-F for 2004. | Symbian remained a multi-shareholder company. |
| 2008 offer for remaining shares | More than 99.9% of the shares Nokia did not already own were validly accepted. | €641 million staged total acquisition cost, including earlier investments, as reported by Nokia’s 2008 Form 20-F. | Nokia completed the acquisition; Symbian employees were planned to transfer to Nokia in February 2009. |
What does the Symbian timeline say about early phones?
Symbian was formed as a software venture before the 2004 stake sale, and devices using it were already shipping by 2002. Nokia’s 2002 funding announcement named devices from Nokia, Ericsson and Psion, and identified the Nokia 7650 as one of the first 2.5G Symbian OS phones, planned for release in the second quarter of 2002. That evidence supports calling it one of the early 2.5G Symbian phones, not asserting that it was the first Symbian device.
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