The sale of UK-based luxury mobile phone company Vertu has now been completed, with private equity fund EQT VI taking control of the business from Nokia. Around 1,000 employees have moved to Vertu, although Nokia is retaining a 10% shareholding in the company.
Current CEO Perry Oosting remains in charge but will now have additional support from a new non-executive board that’ll be chaired by former Nokia board member Anssi Vanjoki.
Perry Oosting said “This is a logical and exciting new chapter for the Vertu brand. We believe that under the ownership of EQT VI our talented workforce, management team and non-executive board will form a formidable proposition to drive the business to the next level.”
Vertu says it has a strong product roadmap in development and already expects further investment. Rumours of future plans include a move away from the Symbian operating system to Android devices.