1 1 1 1 1 Rating 3.40 (5 Votes)

Nokia has agreed terms for EQT VI, part of the leading private equity group in Northern Europe, to acquire Vertu, the global leader in luxury mobile phones, from Nokia.

Nokia believes that this is the best option for the next step in Vertu's journey of delivering excellence, enabling the brand to focus on increased opportunities for growth in the luxury category.

"With its strong brand, undisputed category leadership and attractive growth outlook, Vertu fits well with EQT VI's investment strategy. EQT VI is excited about the opportunity to develop Vertu as a standalone company and plans to drive the development of the luxury mobile phone category through significant investments in retail expansion, marketing and product development," said Jan Ståhlberg, Partner at EQT Partners, Investment Advisor to EQT VI.

 

Having delivered double digit sales growth over the past few years, Vertu continues to lead its class with a portfolio of high end mobile phones, increasingly led by its smartphones and tailored services, offering unique access, experiences and opportunities to a discerning and growing customer base.

"This is a logical next step in the evolution of Vertu as the world leader in luxury mobile products," said Perry Oosting, President of Vertu. "Since Vertu began in 1998, our business has grown every year, due to the efforts of our talented workforce and the unique products and services we offer to our customers. We believe that EQT VI will position Vertu to continue to grow and lead in our marketplace."

Striking the perfect balance between an unparalleled art of craftsmanship and modern technology, Vertu offers an unrivalled range of category leading mobile phones as functional as they are aesthetically desirable.

Vertu prides itself on being a pioneer in delivering relevant, tailored luxury information and services direct to mobile handsets through Vertu Concierge, and continues to expand this proposition to deliver unparalleled customer service.

Vertu is headquartered in Church Crookham, UK and employs approximately 1,000 people worldwide.

The transaction, the terms of which are confidential, is expected to close during the second half of 2012, subject to customary regulatory approvals and closing conditions. Nokia will retain a 10% minority shareholding in Vertu.

Read more http://press.nokia.com/2012/06/14/eqt-vi-to-acquire-vertu-from-nokia/

Add comment

Security code
Refresh

Forum - Categories

General
  1. 0 posts
  2. 0 subcategories
Android
  1. 9 posts
  2. 6 subcategories
Android Apps
  1. 2 posts
  2. 0 subcategories
Android Games
  1. 0 posts
  2. 0 subcategories
Android Themes
  1. 2 posts
  2. 0 subcategories
Android Live Wallpapers
  1. 5 posts
  2. 0 subcategories
Android Firmware
  1. 0 posts
  2. 0 subcategories
Requests
  1. 0 posts
  2. 0 subcategories
Media
  1. 223 posts
  2. 2 subcategories
Wallpapers
  1. 0 posts
  2. 0 subcategories

Recent Discussions

Sound Of Legend - Infinity - Ringtone
331 Hits
0 Votes
0 Replies
Posted on Tuesday, 16 May 2017
  • #Ringtone
Katy Perry - Bon Appétit - Ringtone
408 Hits
0 Votes
0 Replies
Posted on Tuesday, 16 May 2017
  • #Ringtone
DJ Khaled, justin bieber - I'm the one - Ringtone
479 Hits
0 Votes
0 Replies
Posted on Tuesday, 16 May 2017
  • #Ringtone
Shawn Mendes - Theres Nothing Holdin Me Back - Rin
348 Hits
0 Votes
0 Replies
Posted on Tuesday, 16 May 2017
  • #Ringtone
Imagine Dragons - Thunder - Ringtone
601 Hits
0 Votes
0 Replies
Posted on Tuesday, 16 May 2017
  • #Ringtone
Hannah Grace - Praise You - Ringtone
329 Hits
0 Votes
0 Replies
Posted on Tuesday, 16 May 2017
  • #Ringtone