Nokia to acquire bit-side GmbH

Nokia and bit-side GmbH today announced 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.