Microsoft and Nokia have become quite the good friends over the last couple of years after the Finnish company abruptly changed heading and switched to Microsoft"s Windows Phone operating system. Seeing as the company is now able to leverage many of Microsoft"s own tools, the company has sold its Qt app-tools unit to Digia Oyj.
The sale is quite logical for Nokia as Microsoft now is providing all of the software tools needed for development and the app tools unit provided similar set of functionality. With the divestiture of the unit, Nokia will acquire some much needed capital and also shed unesessary products that do not align to the company"s core values; Nokia acquired the app-tools division back in 2008 when it purchased Trolltech ASA.
In addition to the app-tools sale, Nokia also sold 500 patents to Vringo Inc in a separate deal. Vringo is based in New York and will add that patents to its portfolio for cash but must make payments generated from the patent use back to Nokia.
For Nokia, the sales come at a critical time in the company"s history as Elop and crew try to turn the massive ship back towards profitability and sustainability. With a little bit of extra cash in their pocket and Windows Phone 8 right around the corner, it"s now or never for Nokia.
Source: Bloomberg