NOKIA TO ACQUIRE OZ COMMUNICATIONS

Nokia has agreed to acquire OZ Communications. Montreal, Canada-headquartered OZ is a mobile messaging solution provider, delivering access to popular IM and email services on consumer mobile devices. The acquisition will allow Nokia to offer access to AOL, Gmail, ICQ, Windows Live Hotmail, Windows Live Messenger, and Yahoo!. With over 5.5 million monthly paid users, OZ's solutions have been deployed by mobile operators on a range of mobile device platforms. Nokia said it will continue to work closely with OZ's existing original equipment manufacturer (OEM) and mobile operator customers. "With OZ, Nokia is renewing its mission of Connecting People by enabling consumers to easily connect and communicate using their favorite Internet communities," said Niklas Savander, Head of Nokia Services & Software. "OZ's team and technology will help Nokia to address the fast growing consumer messaging market." OZ president and CEO Jim Knapik said, "OZ has been working closely with Nokia since 2003 – joining forces at this point is a natural extension of our partnership.” The acquisition is subject to customary closing conditions and is expected to be completed in Q4 2008. After the closing, OZ will become part of Nokia's Services & Software operative unit. -Smarajit Dasgupta