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Nokia sells Qt software business to Digia Oyj for undisclosed sum
Nokia sells Qt software business to Digia Oyj for undisclosed sum
By: iMedia News Bureau

Nokia has agreed to sell its Qt software business to finnish IT services firm Digia Oyj as part of its strategy to sell off non-core assets.

Following the acquisition Digia becomes responsible for all the Qt activities formerly carried out by Nokia.

These include product development, as well as the commercial and open source licensing and service business. Following the acquisition, Digia plans to quickly enable Qt on Android, iOS and Windows 8 platform.

Bought by Nokia in 2008, Qt is a framework used by close to a half-million developers used for making cross-platform applications for more than dozens of industries -- from aerospace to medical devices industry. It enables developers to write applications for both Symbian and MeeGo. But since Nokia's bid to move away from MeeGo last year in favor of Microsoft-provided Windows Phone 7 and later versions, Qt became widely redundant.

This move from Nokia clearly shows Finnish handset maker’s increasing dependence on Microsoft as it tries to stem plunging sales amid competition from Apple’s iPhone and devices running Google’s Android software.

As many as 125 employees will move to Digia as part of the deal, according to a statement from the Finnish software maker today.

For Nokia, this will be seen as another cost-cutting exercise in a bid to preserve the cash it's already burning through at a rapid rate. The company this year alone cut 10,000 jobs and brought in the bankers to mull a buy-off of its luxury line of phone, Vertu.