Nokia / Miscellaneous
22.06.2011 08:00
Dissemination of a UK Regulatory Announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Nokia Corporation
Stock exchange release
June 22, 2011 at 09:00 (CET +1)
Espoo, Finland - Nokia (NYSE: NOK) and Accenture (NYSE: ACN) have finalized an
agreement for Nokia to outsource Symbian software development and support
activities to Accenture. Plans of the agreement were first announced on April
27, 2011.
Under the agreement, Accenture will provide Symbian based software development
and support services to Nokia through 2016. Approximately 2,800 Nokia employees
located in China, Finland, India, United Kingdom and the United States, are
expected to transfer to Accenture at closing, which is expected to take place
in the early part of October, 2011.
'We look forward to partnering with Nokia as they continue to support Symbian
and transition to the Windows Phone ecosystem,' said Marty Cole, chief
executive, Accenture Communications and High Tech group. 'The highly skilled
group of technologists and engineers transferring to Accenture will complement
our current mobility skills and enhance the breadth, depth and scale of our
capabilities, allowing us to meet the growing global demand for mobility
services across many industries.'
The agreement calls for Accenture to support and further develop Nokia's
Symbian platform and to become the preferred supplier to Nokia on their
transition to Windows Phone. Accenture will seek opportunities to leverage
transferring employee skills and capabilities to provide mobility software,
business and operational services around the Windows Phone platform to Nokia
and other ecosystem participants. Accenture will also seek to retrain and
redeploy transferred employees.
'Our collaboration with Accenture allows us to meet our ongoing commitment to
support our Symbian smartphone customers and continue to leverage the talent
that has the deepest experience on the platform,' said Jo Harlow, executive
vice president for Smart Devices, Nokia. 'As we move our primary smartphone
platform to Windows Phone, we will look to explore potential opportunities to
tap this talent pool as they develop and expand their knowledge and
capabilities beyond Symbian.'
Accenture will also work with Avanade, a technology service company that is
majority-owned by Accenture and focuses on Microsoft technologies, to provide
further services to Nokia.
The definitive agreement includes customary closing conditions.
About Accenture
Accenture is a global management consulting, technology services and
outsourcing company, with more than 215,000 people serving clients in more than
120 countries. Combining unparalleled experience, comprehensive capabilities
across all industries and business functions, and extensive research on the
world's most successful companies, Accenture collaborates with clients to help
them become high-performance businesses and governments. The company generated
net revenues of USD21.6 billion for the fiscal year ended Aug. 31, 2010. Its
home page is www.accenture.com.
Accenture is focused on enabling its clients to achieve breakthrough growth
throughout the rapidly changing mobile ecosystem. The Accenture Mobility
Services group offers five mobility services including consulting, software
services--applications, software services--devices and platforms, managed
services, and business integration services. These are designed to help
organizations embrace business to employee (B2E), business to consumer (B2C),
business to business (B2B) and machine to machine (M2M) business opportunities.
Accenture offers mobility and embedded software services across a wide range of
industries and platforms, including Symbian, WinMo (Microsoft Windows(r) Mobile),
Windows Phone, Android(tm), Blackberry(r), iPhone(r), Java(tm), Linux, Meego(tm).
About Nokia
Nokia is committed to connecting people to what matters to them by combining
advanced mobile technology with personalized services. More than 1.3 billion
people connect to one another with a Nokia, from our most affordable
voice-optimized mobile phones to advanced Internet-connected smartphones sold
in virtually every market in the world. Through Ovi (www.ovi.com), people also
enjoy access to maps and navigation on mobile, a rapidly expanding applications
store, a growing catalog of digital music, free email and more. Nokia's NAVTEQ
is a leader in comprehensive digital mapping and navigation services, and Nokia
Siemens Networks is one of the leading providers of telecommunications
infrastructure hardware, software and professional services globally.
FORWARD LOOKING STATEMENTS
Except for the historical information and discussions contained herein,
statements in this news release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995,
including, without limitation, A) the plans and terms of the collaboration
between Nokia and Accenture (referred to below as the 'transaction'); B) the
timing and expected benefits of the planned transaction, including expected
operational and financial benefits of the transaction to either of the parties
or their employees, C) the plan to seek opportunities to retrain and redeploy
employees being transferred and D) any statements preceded by 'believe,'
'expect,' 'anticipate,' 'foresee,' 'target,' 'estimate,' 'designed,' 'plans,'
'will' or similar expressions These statements are not guarantees of future
performance and involve a number of risks, uncertainties and other factors that
could cause actual results to differ materially from those expressed or
implied. Forward-looking statements are based upon assumptions as to future
events that may not prove to be accurate. Risks, uncertainties and other
factors that might cause actual results to differ from those expressed or
implied include, but are not limited to risks that: 1) Accenture and Nokia will
not be able to close the planned transaction in the time period anticipated, or
at all; 2) the planned transaction might not achieve the anticipated benefits
for Accenture or for Nokia or the employees being transferred to Accenture,
including the plans to seek opportunities to retrain and redeploy these
employees; 3) Accenture's results of operations could be negatively affected if
Accenture cannot expand and develop its services and solutions in response to
changes in technology and client demand; 4) Nokia's results of operations could
be negatively affected if Nokia cannot continue to serve its Symbian customers
in the same or in an improved manner than before the planned transaction; 5)
Nokia's results of operations could be negatively affected if it was not able
to maintain the viability of its current Symbian smartphone platform, including
but not limited to the targeted levels of sale of Symbian products; 6)
Accenture's growth and ability to compete may be adversely affected if
Accenture cannot attract, retain and motivate employees or efficiently utilize
their skills, including those personnel currently employed by the Nokia unit;
7) the risks, uncertainties and other factors discussed under the 'Risk
Factors' heading in Accenture's most recent annual report on Form 10-K and
other documents filed with or furnished to the Securities and Exchange
Commission as well as 8) the risk factors specified on pages 12-39 of Nokia's
annual report Form 20-F for the year ended December 31, 2010 under Item 3D.
'Risk Factors.' Statements in this press release speak only as of the date they
were made. Other unknown or unpredictable factors or underlying assumptions
subsequently proving to be incorrect (including, without limitation,
assumptions regarding the number of transferred employees likely to be
redeployed and the financial assumptions underlying the structure and economic
terms of the transaction) also could cause actual results to differ materially
from those in the forward-looking statements. Accenture or Nokia undertakes no
duty to publicly update or revise any forward-looking statements made in this
news release or to conform such statements to new information, future events,
actual results or changes in Accenture's or Nokia's expectations, except to the
extent legally required.
Media Enquiries:
Nokia
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com
Accenture
Press Office
Tel. +358 2057 26049
Email: pressoffice.fi@accenture.com
www.nokia.com
News Source: NASDAQ OMX
22.06.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Nokia
Finland
Phone:
Fax:
E-mail:
Internet:
ISIN: FI0009000681
Category Code: MSC
LSE Ticker: 0HAF
Sequence Number: 829
Time of Receipt: Jun 22, 2011 08:00:15
End of Announcement DGAP News-Service
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(END) Dow Jones Newswires
June 22, 2011 02:01 ET (06:01 GMT)
