The manufacturer of handcrafted luxury smartphones Vertu has been sold by Swedish private equity group EQT VI to Chinese investors. The business has been acquired by Godin Holdings, a Hong Kong-based fund. The other terms of the deal were not disclosed yet.
The chief executive of Vertu, has resigned just after the announcement about the deal. He mentioned it had been an appropriate time to pass on the baton of leadership to a new team. However the manufacturer will continue to be based in UK, where around 450 people are employed.
Originally founded by Nokia in 1998, Vertu has been sold to Swedish investcompany for $200 mln. Nokia still possesses a little stake in the company.