Jolla, a Finland-based company formed out of phone maker Nokia’s abandoned MeeGo platform that used the Sailfish operating system, has sold 6.25% to China Fortune, a Hong Kong-based trader of phones formerly known as Fortune Telecom, for €1m ($1.3m).
China Fortune said a wholly-owned subsidiary acquired convertible bonds from Jolla in December and agreed to exercise its option to purchase 11,944 shares.
China Fortune said it had been actively looking for opportunities to diversify its business but said its deal with Jolla was because “mobile phone operating system and mobile internet are the major key business areas the group is interested in”.
In addition to China Fortune’s stake, Jolla saidboth owners have invested in the company, along with a group of unnamed outside investors that provided €10m, according to news provider Arctic Startup.