Despite 10,000 job cuts Nokia buys imaging player Scalado
As the news sank in among another 10,000 Nokia workers to get the pink slip, it emerged today that Nokia is pressing ahead with plans to buy an imaging firm called Scalado.
Scalado, which is based in Lund in Sweden, is selling all its technologies and IP to the mobile phone giant.
Earlier today it emerged that Nokia is shedding 10,000 jobs, including the closure of facilities in Finland, Canada and Germany.
Scalado's Lund site is planned to become a key site for Nokia's imaging software for smartphones.
"This is a great opportunity for many of our people to show their leadership in imaging and to continue to build its future," said Håkan Persson, chief executive officer of Scalado AB.
“Doing this as part of Nokia, already a leader in mobile imaging, will reinforce the strength of the technologies and competences developed at Scalado," Persson said.
Despite Nokia buying the company's technologies and IP, Scalado AB will continue to exist. All present customer agreements and obligations will remain with Scalado AB, the company said.