Nokia 2008 Annual Report Download - page 184
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8. Acquisitions (Continued)
The amount of the loss specifically attributable to the business acquired from Siemens since the
acquisition date included in the Group’s profit for the period has not been disclosed as it is not
practicable to do so. This is due to the ongoing integration of the acquired Siemens’ carrierrelated
operations and Nokia’s networks business, and management’s focus on the operations and results of
the combined entity, Nokia Siemens Networks.
During 2007, the Group completed the acquisition of the following three companies. The purchase
consideration paid and goodwill arising from these acquisitions was not material to the Group.
• Enpocket Inc., based in Boston, USA, a global leader in mobile advertising providing technology
and services that allow brands to plan, create, execute, measure and optimise mobile
advertising campaigns around the world. The Group acquired 100% ownership interest in
Enpocket Inc. on October 5, 2007.
• Avvenu Inc., based in Palo Alto, USA, provides internet services that allow anyone to use their
mobile devices to securely access, use and share personal computer files. The Group acquired
100% ownership interest in Avvenu Inc. on December 5, 2007.
• Twango, provides a comprehensive media sharing solution for organising and sharing photos,
videos and other personal media. The Group acquired substantially all assets of Twango on
July 25, 2007.
Acquisitions completed in 2006
On February 10, 2006, the Group completed its acquisition of all of the outstanding common stock of
Intellisync Corporation. Intellisync is a leader in synchronization technology for platformindependent
wireless messaging and other business applications for mobile devices. The acquisition of Intellisync
was to enhance Nokia’s ability to respond to its customers and effectively put Nokia at the core of
any mobility solution for businesses of all sizes.
The total cost of the acquisition was EUR 325 million consisting of EUR 319 million of cash and
EUR 6 million of costs directly attributable to the acquisition.
The following table summarises the estimated fair values of the assets acquired and liabilities
F40
Notes to the Consolidated Financial Statements (Continued)