Nokia has acquired a Norway-based mobile phone operating system developer called Smarterphone AS, as the company attempts to reinvent itself and compete with existing players.
Investor Ferd Capital said last week the deal was finalised in November and that the company has already established an OS that is "highly advanced functionality on very moderate hardware".
"Egil Kvaleberg is a world-class software architect and founder. His internationally recruited and unique team situated in Oslo has created an operating system for a lower end mobile phone that provides highly advanced functionality on very moderate hardware" Annar Bohn, investment manager in Ferd Capital said in a statement.
"Our belief in the team, technology and the long-term market for feature phones remains firm, and we believe the company has now found a fantastic new home with Nokia."
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