China Fortune Holding is set to take a 6.25 per cent stake in Jolla, the company behind the Sailfish device platform.
Jolla, which is building its platform using technology evolved from the MeeGo platform abandoned by Nokia, has previously indicated that China is a target market, inking a deal with retailer D.Phone in this region.
China Fortune, which operates across markets including mineral resources, telecoms and investment, has a business focused on “fulfilment services, design, retail and logistics” for mobile devices, and is a partner of Nokia for mainland China.
In a statement, China Fortune said that “since the Group has been in the related mobile phone industry for decades, and the potential for mobile phone related business development is surely enormous and sustainable, mobile phone operating system and mobile internet are the major key business areas the Group is interested in”.
It continued: “Although Jolla Oy is a newly established company in Finland, its team consists of well-experienced programmers and developers of mobile phone operating system. Jolla Oy’s coming innovative and brand new mobile phone operating system is expected to bring new impact and opportunity to the market”.
The deal is being conducted through Express Fortune, a subsidiary of China Fortune, through a series of transactions worth around €1 million.
China Fortune said that it will hold 6.25 percent “of Jolla Oy’s share capital after a series of Jolla Oy’s fund raising activities expected to be completed in March 2013” – indicating that more deals are in the pipeline.