Monday, March 7, 2011

Nokia (NOK) Selling Qt Business to Digia

Nokia (NYSE:NOK) announced it'll be selling its Qt commercial licensing and services business to Digia PLC, a technology services company.

Qt technology allows software developers to write applications once, and then have them operate on multiple operating systems.

Nokia took control of QT technology when it acquired Norway-based Trolltec in 2008.

CEO Stephen Elop has supported Qt until it made the deal with Microsoft to use Windows Phone 7 as their platform for smartphones. Qt was targeting developers who wanted to make applications for Symbian.

While Nokia will continue to support Qt, it won't be offered on the smartphones they develop using Windows software.

Nokia was trading at $8.36, down $0.13, or 1.53 percnet, as of 11:40 AM EST.

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