Investment business Ferd Capital has sold Norwegian mobile software company Smarterphone AS to Nokia. The deal took place in November 2011 but has only just been announced.
Smarterphone offers an operating system that delivers an experience similar to a high-end ‘smart phone’ on lower-priced feature phones. The company was previously named Kvaleberg and its product was called Mimiria. Ferd Capital, which invested in the company in 2007, has invested a total of 6.5 million Euro in Smarterphone. Other investors included Innovation Norway, Haavard Nord and Lars Øberg.
Annar Bohn, investment manager at Ferd Capital, said “Egil Kvaleberg [Smarterphone CEO] is a world class software architect and founder. His internationally recruited and unique team situated in Oslo has created an operating system for lower end mobile phone that provides highly advanced functionality on very moderate hardware. Our belief in the team, technology and the long term market for feature phones remains firm, and we believe the company has now found a fantastic new home with Nokia.”