that an agreement has been signed for Nokia to acquire substantially all
assets of bit-side. Bit-side is a privately owned Berlin-based professional
services and software company with 39 employees. By acquiring bit-side Nokia
will strengthen and accelerate its mobile development for Nokia Maps.
"Acquiring bit-side enables Nokia to offer consumers the world-leading
mobile location applications, such as Maps, along with routing and
navigation at an accelerated speed" said Michael Halbherr, vice president
and head of social location, Nokia. "Nokia has been working with bit-side
since 2007, and bit-side has become a strategic development partner to
Nokia."
"Nokia believes that context plays a pivotal role in the evolution of the
Internet. To make the Internet truly personal, Nokia is building the ability
for people to always know where they are and what is around them. Moreover,
to know where their friends are and what they are doing and how they are
feeling. Nokia calls this social location," said Michael Halbherr, vice
president and head of social location, Nokia.
"Joining Nokia, the world leader in mobility, is an exciting opportunity for
us," says Thom Brenner, managing director & partner, bit-side GmbH. "Our
small team has brought many innovative mobile products to life and being
part of Nokia will be like a catalyst to this. We share Nokia's visions, on
social and location related services and the future of their enabling
technologies."
The transaction is subject to customary closing conditions and is expected
to be completed in the first quarter of 2009. Bit-side will be integrated to
Nokia's Services unit.
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