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Motorola buys into Sweden's UIQ

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17:29 CEST+02:00
American telecom equipment maker Motorola has announced plans to by 50 percent of Swedish tech company UIQ Technology. UIQ is currently wholly owned by Swedish-Japanese mobile phone company Sony Ericsson.

UIQ, which develops advanced platforms for advanced mobile phones, was bought by Sony Ericsson from Britain's Symbian in February. Sony Ericsson immediately invited its competitors to become shareholders in UIQ. Mattias Holm, spokesman for Sony Ericsson, said Motorola was the first company to respond to the offer.

In a joint press release, Motorola and Sony Ericsson said they were interested in finding further shareholders for the company. The deal is subject to approval from competition authorities and is scheduled to be completed by the end of the year.

UIQ employs around 350 people in Ronneby, southern Sweden, as well as in London and Budapest.

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