Nokia 2010 Annual Report Download - page 226

9. Acquisitions (Continued)
acquisition including acceleration of the Group’s internet services strategy. None of the goodwill
acquired is expected to be deductible for income tax purposes.
Symbian
On December 2, 2008, the Group completed its acquisition of 52.1% of the outstanding common stock
of Symbian Ltd. As a result of this acquisition, the Group’s total ownership interest increased from
47.9% to 100% of the outstanding common stock of Symbian. A UKbased software licensing
company, Symbian developed and licensed Symbian OS, the marketleading open operating system for
mobile phones. The acquisition of Symbian was a fundamental step in the establishment of the
Symbian Foundation.
The Group contributed the Symbian OS and S60 software to the Symbian Foundation for the purpose
of creating a unified mobile software platform with a common UI framework. A full platform was
available for all Foundation members under a royaltyfree license, from the Foundation’s first day of
operations.
The acquisition of Symbian was achieved in stages through successive share purchases at various
times from the formation of the company. Thus, the amount of goodwill arising from the acquisition
has been determined via a stepbystep comparison of the cost of the individual investments in
Symbian with the acquired interest in the fair values of Symbian’s identifiable net assets at each
stage. Revaluation of the Group’s previously held interests in Symbian’s identifiable net assets is
recognised as a revaluation surplus in equity. Application of the equity method has been reversed
such that the carrying amount of the Group’s previously held interests in Symbian have been adjusted
to cost. The Group’s share of changes in Symbian’s equity balances after each stage is included in
equity.
The total cost of the acquisition was EUR 641 million consisting of cash paid of EUR 435 million, costs
directly attributable to the acquisition of EUR 6 million and investments in Symbian from previous
exchange transactions of EUR 200 million.
F38
Notes to the Consolidated Financial Statements (Continued)