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Technology Stocks : Nokia Corp. (NOK)
NOK 6.480-0.2%Jan 9 9:30 AM EST

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From: Eric L10/23/2012 1:51:55 PM
1 Recommendation  Read Replies (3) of 9255
 
Nokia: Chicago Expansion ...

Nokia's Xpress Internet Services division colating with NavTeq's primary office in Chicago's West Loop.

>> Nokia unit joins tech collection downtown, brings 250 jobs

GregHinz
Craig's Chicago Business
October 23, 2012

chicagobusiness.com

Another chunk of technology business is coming to suddenly hot-wired downtown Chicago.

Nokia's Xpress Internet Services division, formerly known as Novarra [see article below], is moving its headquarters and 150 jobs from Itasca, company officials and Mayor Rahm Emanuel announced today. And Nokia itself is adding 100 workers in various tech positions, bringing its total workforce in the city to nearly 1,500, making Chicago Nokia's largest office in North America.

As was the case with a number of recent announcements, including the pending move of Motorola Mobility from Libertyville to the Merchandise Mart, the new shift appears to have been promoted by a combination of the city's attractiveness to young talent and some behind-the-scenes arm twisting by Mr. Emanuel.

"Nokia's growth in Chicago is a huge win," Mr. Emanuel said. "More and more companies in this space are seeing that Chicago has the top talent available to help innovate and grow businesses."

Mr. Emanuel, according to his office, met with Nokia CEO Stephen Elop on Aug. 1 to discuss both the Xpress move and the company's broader plans here. One strategy was to connect Nokia with execs of other tech firms that have moved here, and to assist it on talent recruitment.

"We've been perfecting digital maps for more than 15 years in the Chicago area," said Nokia President Ogi Redzic, referring to the acquisition of Chicago-based Navteq, a digital map maker. "In today's increasingly mobile environment, we are on a mission to create a virtual index of the real world. . . .We believe Chicago offers a critical mass of Internet, communications and technology talent pool to help us grow."

The city is not offering any financial incentives in exchange for the move. Xpress will join other Nokia units in adding space at 425 W. Randolph St.

Like Motorola Mobility, Nokia has been struggling in the cellphone business since Apple unveiled its iPhone. But, like Motorola, the firm is launching new smartphones and hoping to rebuild its fortunes. Meantime, Mr. Emanuel certainly isn't complaining. ###

>> Nokia Buys Mobile Web Browser Company Novarra
Leena Rao
March 26th, 2010

techcrunch.com

Nokia has acquired Novarra, an Illinois-based company that develops mobile web browser technologies. Terms of the acquisition were not disclosed. The acquisition makes sense, considering that Nokia builds its own browser. Nokia says Novarra’s technology will be integrated to provide a more powerful browsing experience on Nokia phones. Novarra which was founded in 1999, raised $50 million in funding in 2007. The company creates web-based technologies for low-end mobile feature devices, including functionality for internet access, portals, videos, widgets and advertising. Novarra supplied its technologies to Palm and U.S. Cellular previously. While Nokia develops and operates its own browser on its devices, the Nokia’s Ovi store offers third-party browsers for some phones, including Opera Mini and Skyfire. ... <snip rest> ... ###

- Eric -
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