View source for Qt Group

{{short description|Finnish software company}}
{{distinguish|text=the [[Qt Project]]}}
{{Use dmy dates|date=October 2020}}
{{Infobox company
| name = Qt Group Plc
| type = [[Public company|Public]]
| traded_as = {{OMX|HEX121457|QTCOM}}
| genre = 
| foundation = 4 March 1994 (as Trolltech)
| founders = {{plainlist|
* Eirik Chambe-Eng
* Haavard Nord
}}<ref>{{cite web|url=https://www.qt.io/qt20/|title=20 Years of Qt Code|access-date=10 June 2016}}</ref>
| location_city = [[Espoo]]
| location_country = [[Finland]]<ref name="offices">{{cite web|url=https://www.qt.io/contact-us/qt-offices/|title=Find Qt|access-date=20 June 2024}}</ref>
| location = <!--modifies "Headquarters" entry-->
| key_people = {{plainlist|
* Juha Varelius (CEO) (2008-)
* Jouni Lintunen (CFO) (2020-)
}}<ref>{{cite web|url=https://www.qt.io/management/|title=The Qt Company Management|access-date=20 June 2024}}</ref>
| area_served = Worldwide
| industry = [[Computer software]]
| products = [[Qt (toolkit)|Qt]], [[Qt Creator]], [[Qbs (build tool)|Qbs]], [[PySide]], Coco, Squish, Test Center, Axivion Suite
| services = 
| divisions = 
| subsid = 
| owner = 
| parent = {{unbulleted list|[[Trolltech]] (1991–2008)||[[Nokia]] (2008–2011)|[[Qt Project]] (2011–present)|Digia (2012–2014)||}}
| homepage = {{URL|https://www.qt.io}}
| dissolved = 
}}
{{Portal|Free and open-source software}}
'''Qt Group Plc''' (pronounced "cute"; formerly known as '''Trolltech''', '''Qt Company''', '''Qt Development Frameworks''' and '''Qt Software''') is a global software company headquartered in [[Espoo]], [[Finland]]. It was formed following the acquisition of Qt by Digia, but was later spun off into a separate, [[publicly traded company]].

The company oversees the development of the [[Qt (software)|Qt framework]] alongside the [[Qt Project]],<ref>{{Cite web |title=About Qt - Qt Wiki |url=https://wiki.qt.io/About_Qt |access-date=2024-06-20 |website=wiki.qt.io}}</ref> and provides tools for [[user interface|UI]] design, software development, quality assurance and testing, as well as expert consulting services.<ref name=":7" />

==History==

=== Trolltech 1994–2007 ===
Trolltech was founded by Eirik Chambe-Eng and Haavard Nord on 4 March 1994.<ref name=":0">{{Cite web |title=Trolltech goes public |url=https://www.zdnet.com/article/trolltech-goes-public/ |access-date=2024-05-30 |website=ZDNET |language=en}}</ref> They started writing Qt in 1991, and since then Qt has steadily expanded and improved. 

In 2002 Trolltech introduced [[Qtopia]] which is based on Qt. Qtopia is an application platform for [[Linux]]-based devices such as mobile phones, portable media players, and home media. It is also used in many non-consumer products such as medical instruments and industrial devices.<ref>{{Cite web |last=Holland |first=Colin |date=2002-07-02 |title=Qtopia provides multi-platform mobile application environment |url=https://www.embedded.com/qtopia-provides-multi-platform-mobile-application-environment/ |access-date=2024-05-30 |website=Embedded}}</ref> [[Qtopia Phone Edition]] was released in 2004, and their [[Greenphone]] [[smartphone]] is based on this platform.

Trolltech completed an [[initial public offering]] (IPO) on the [[Oslo Stock Exchange]] in July, 2006.<ref name=":0" />

=== Part of Nokia 2008–2012 ===
On 28 January 2008, [[Nokia|Nokia Corporation]] announced that they had entered into an agreement to make a public voluntary tender offer to acquire Trolltech.<ref>{{cite web |date=28 January 2008 |title=Nokia to acquire Trolltech to accelerate software strategy |url=http://www.nokia.com/A4136001?newsid=1185531 |url-status=dead |archive-url=https://web.archive.org/web/20080304155423/http://www.nokia.com/A4136001?newsid=1185531 |archive-date=4 March 2008 |access-date=28 January 2008}}</ref> The total cost for Nokia was approximately €104 million.<ref>{{cite web |date=28 January 2008 |title=Nokia ostaa norjalaisen ohjelmistoyrityksen |url=http://www.hs.fi/talous/artikkeli/Nokia+ostaa+norjalaisen+ohjelmistoyrityksen/1135233615595 |url-status=dead |archive-url=https://web.archive.org/web/20080129110031/http://www.hs.fi/talous/artikkeli/Nokia+ostaa+norjalaisen+ohjelmistoyrityksen/1135233615595 |archive-date=29 January 2008 |access-date=28 January 2008 |language=fi}}</ref><ref>{{cite web |date=28 January 2008 |title=Nokia to buy Trolltech, will become a patron of KDE |url=https://arstechnica.com/information-technology/2008/01/nokia-buys-trolltech-will-become-a-patron-of-kde/}}</ref> On 5 June 2008 Nokia's voluntary tender offer was approved for all the shares in Trolltech. By 17 June 2008, Nokia had completed its acquisition of Trolltech. On 30 September 2008, Trolltech was renamed as Qt Software, and Qtopia was renamed as [[Qt Extended]]. On 11 August 2009, the company's name was changed to Qt Development Frameworks.<ref>{{cite web |date=11 August 2009 |title=New name, new domain announced for Qt Development Frameworks |url=http://qt.nokia.com/about/news/new-name-new-domain-announced-for-qt-development-frameworks |url-status=dead |archive-url=https://web.archive.org/web/20120107014606/http://qt.nokia.com/about/news/new-name-new-domain-announced-for-qt-development-frameworks |archive-date=7 January 2012 |access-date=18 August 2009}}</ref>

The Qt environment was a key part of the company's strategy until 2011, when Nokia decided to switch to [[Windows Phone]] OS for its smartphones.<ref>{{Cite news |last=Halliday |first=Josh |date=2012-08-09 |title=Nokia sells its Qt software business |url=https://www.theguardian.com/technology/2012/aug/09/nokia-sells-qt-software-business |access-date=2024-05-30 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref>

=== Part of Digia 2012–2016 ===
Nokia sold the commercial licensing business of Qt to Digia in March 2011.<ref name="CLAWTON2011">{{cite news |last=Lawton |first=Christopher |date=7 March 2011 |title=Nokia to Sell Qt Business |url=https://www.wsj.com/articles/SB10001424052748703386704576186422837546748 |newspaper=[[The Wall Street Journal]]}}</ref> The following year, Digia acquired the entire Qt development environment and related business from Nokia. As a result of the acquisition, Digia became responsible for all of the functions related to Qt technology, including product development. The main goal of the acquisition was to strengthen Digia's position in the Qt ecosystem and expand the availability of Qt technology across a growing number of platforms.<ref>{{Cite web |date=2012-08-09 |title=Digia osti Nokialta koko Qt-ohjelmistobisneksen |url=https://yle.fi/a/3-6249242 |access-date=2024-05-30 |website=Yle Uutiset |language=fi}}</ref> 

In September 2014, Digia formed The Qt Company, a wholly owned subsidiary dedicated to the development and governance of the Qt platform.<ref name="zdnet-qtcom">{{cite web |title=Qt hot potato spun out from Digia into fourth home |url=https://www.zdnet.com/article/qt-hot-potato-spun-out-from-digia-into-fourth-home/ |access-date=21 February 2017 |website=ZDNet}}</ref> In connection with this, the website qt.io went live, combining the [[open source]] qt development and commercial Qt functions that had previously operated at different addresses. Qt products had some 800,000 users globally.<ref>{{Cite news |title=Digia Announces "The Qt Company", Launches a Unified Website and Unleashes a €20 Indie Mobile Monthly Subscription Plan |url=https://www.businesswire.com/news/home/20140916005619/en/Digia-Announces-%E2%80%9CThe-Qt-Company%E2%80%9D-Launches-a-Unified-Website-and-Unleashes-a-%E2%82%AC20-Indie-Mobile-Monthly-Subscription-Plan |access-date=2024-05-30 |language=en}}</ref> 

In August 2015, Digia Plc's Board of Directors began to explore the [[demerger]] of Digia’s domestic businesses and the Qt businesses into two separate listed companies.<ref>{{Cite web |last=Lehmusvirta |first=Antti |date=2024-05-30 |title=Digia jakautumassa kahdeksi pörssiyhtiöksi |url=https://www.kauppalehti.fi/uutiset/digia-jakautumassa-kahdeksi-porssiyhtioksi/8a2c8ed7-d2e5-3454-a98d-7d69e8838ddb |access-date=2024-05-30 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref> 

=== Qt Group 2016–current ===
In May 2016, the company went public on [[NASDAQ Helsinki]] as QTCOM.<ref name=":1">{{Cite web |last=Talouselämä |date=2016-03-18 |title=Digian jakautuminen etenee - toimitusjohtajaksi Timo Levoranta |url=https://www.talouselama.fi/uutiset/digian-jakautuminen-etenee-toimitusjohtajaksi-timo-levoranta/f0857ea6-b49b-331a-9ac8-5a799ff33f1d |access-date=2024-05-30 |website=Talouselämä |language=fi}}</ref> In March 2016, Digia Plc's Annual General Meeting resolved on the partial demerger of Digia<ref>{{Cite web |last=Talouselämä |date=2016-03-18 |title=Digian jakautuminen etenee - toimitusjohtajaksi Timo Levoranta |url=https://www.talouselama.fi/uutiset/digian-jakautuminen-etenee-toimitusjohtajaksi-timo-levoranta/f0857ea6-b49b-331a-9ac8-5a799ff33f1d |access-date=2024-05-30 |website=Talouselämä |language=fi}}</ref> and the demerger was registered in the trade register on May 1.<ref>{{Cite web |last=Hänninen |first=Anna-Mari |date=2024-05-30 |title=Digia: Qt Group pörssiin toukokuun alussa |url=https://www.kauppalehti.fi/uutiset/digia-qt-group-porssiin-toukokuun-alussa/93c8df95-bed2-320a-8e13-44fe09be34b1 |access-date=2024-05-30 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref> Digia’s Qt business was transferred to a new company, named Qt Group, and Digia's domestic business segment remained under the Digia brand. Digia’s CEO Juha Varelius was appointed as the CEO of Qt Group.<ref name=":1" /> Trading in Qt Group shares began on the main list of the [[Helsinki Stock Exchange]] in May 2016.<ref>{{Cite web |title=Tämä menestystarina on jäänyt monelta huomaamatta – pörssikomeetan kurssi noussut 5 vuodessa 2 657 prosenttia |url=https://www.iltalehti.fi/talous/a/5aa07cdd-0591-43a1-a668-fb4c4e1a5fd6 |access-date=2024-05-30 |website=www.iltalehti.fi |language=fi}}</ref> 

In 2018, the company had 5,000 customers. Approximately 80% of the [[Fortune 500]] companies are customers of Qt Group.<ref name=":5">{{Cite web |last=Herrala |first=Olli |date=2024-05-30 |title=Qt Group voi olla mukana kaikessa, missä on näyttö |url=https://www.kauppalehti.fi/uutiset/qt-group-voi-olla-mukana-kaikessa-missa-on-naytto/fce46e1b-af55-36fc-b209-e4891a5cce21 |access-date=2024-05-30 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref>

The company attracted the interest of international investors in spring 2020 when its [[market capitalization]] rose above 500 million euros.<ref name=":2">{{Cite web |last=Leiviskä |first=Pekka |date=2021-03-31 |title=Pieni suomalaisyhtiö näytti epäilijöille: kasvaa hurjasti ja kilpailee Googlen kanssa – "Suomessa ei ole ollut tällaisia sitten Nokian" |url=https://www.is.fi/taloussanomat/art-2000007894099.html |access-date=2024-05-30 |website=Ilta-Sanomat |language=fi}}</ref>  The company's market capitalization exceeded 1 billion euros in October.<ref>{{Cite web |last=Rinta-Jouppi |first=Anton |date=2024-05-30 |title=Qt:n markkina-arvo ylitti miljardin euron rajapyykin – Analyytikko: "Kurssinousu on ansaittu" |url=https://www.kauppalehti.fi/uutiset/qtn-markkina-arvo-ylitti-miljardin-euron-rajapyykin-analyytikko-kurssinousu-on-ansaittu/241546ff-501c-4e6b-9b1a-fafe7f53a356 |access-date=2024-05-30 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref> The share price had risen by more than 700% from the IPO price.<ref>{{Cite web |last=Rinta-Jouppi |first=Anton |date=2024-05-30 |title=Qt:n markkina-arvo ylitti miljardin euron rajapyykin – Analyytikko: "Kurssinousu on ansaittu" |url=https://www.kauppalehti.fi/uutiset/qtn-markkina-arvo-ylitti-miljardin-euron-rajapyykin-analyytikko-kurssinousu-on-ansaittu/241546ff-501c-4e6b-9b1a-fafe7f53a356 |access-date=2024-05-30 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref> The company's net sales were close to EUR 80 million euros and its earnings were approximately 17 million euros.<ref name=":3">{{Cite web |last=Räisänen |first=Perttu |date=2024-05-30 |title=Supernousija Qt on nelinkertaistanut vuodessa arvonsa kahteen miljardiin euroon, ja näkymät ovat poikkeuksellisen hyvät – "Yhtiön markkina on nuori ja vasta muodostumassa" |url=https://www.kauppalehti.fi/uutiset/supernousija-qt-on-nelinkertaistanut-vuodessa-arvonsa-kahteen-miljardiin-euroon-ja-nakymat-ovat-poikkeuksellisen-hyvat-yhtion-markkina-on-nuori-ja-vasta-muodostumassa/2668d94a-c1f7-4817-bc53-530019b8895f |access-date=2024-05-30 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref>  

By spring 2021, the company’s share price had grown nearly fivefold over a period of one year,<ref name=":2" /> and its market capitalization was above 2 billion euros.<ref name=":3" /> In April, the company announced that it would acquire Froglogic, a Germany-based developer of test automation tools for applications based on the Qt GUI framework.<ref>{{Cite web |date=2021-04-13 |title=Yrityskaupat {{!}} Ohjelmistoyhtiö Qt Group ostaa saksalaisen Froglogicin |url=https://www.hs.fi/talous/art-2000007917646.html |access-date=2024-05-30 |website=Helsingin Sanomat |language=fi}}</ref> In August, the company made it to the [[OMXH25]] index.<ref>{{Cite web |last=Wacker |first=Henrik |date=2024-05-30 |title=Qt Group nousee OMXH25-indeksiin – Neles tippuu pois |url=https://www.kauppalehti.fi/uutiset/qt-group-nousee-omxh25-indeksiin-neles-tippuu-pois/3e67f97c-be2d-48ae-8bca-9e9e3c08b6c9 |access-date=2024-05-30 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref> The company's net sales amounted to 121 million euros and it had 455 employees.<ref name=":4">{{Cite web |last=Ollila |first=Kauko |date=2024-05-30 |title=Qt laajentaa laadunvarmistukseen – "laitteiden on heti oltava riittävän hyviä" |url=https://www.tivi.fi/uutiset/qt-laajentaa-laadunvarmistukseen-laitteiden-on-heti-oltava-riittavan-hyvia/02671d36-b6f6-46cd-8d69-70095ba1fc87 |access-date=2024-05-30 |website=Tivi |language=fi}}</ref>

In the fall of 2022, the company announced that it would acquire Axivion, a Germany-based company whose products detect factors that erode the quality and performance of software.<ref name=":4" /> 

In March 2023, the company had 706 employees.<ref>{{Cite web |last=Saarikko |first=Savanna |date=2024-05-30 |title=Qt Groupin henkilöstö on kasvanut vuodessa 26 % – markkinoiden epävarmuus ei haittaa |url=https://www.tivi.fi/uutiset/qt-groupin-henkilosto-on-kasvanut-vuodessa-26-markkinoiden-epavarmuus-ei-haittaa/e4baae95-3d8b-4a36-b8b1-695c56d25af6 |access-date=2024-05-30 |website=Tivi |language=fi}}</ref>

==Organization==
Qt Group's head office is located in [[Helsinki, Finland]]. The company has approximately 800 employees worldwide. <ref name=":6">{{Cite web |title=About The Qt Group - Code Less & Create More |url=https://www.qt.io/group |access-date=2024-05-16 |website=www.qt.io |language=en}}</ref> 

The company’s CEO is Juha Varelius,<ref>{{Cite web |title=Toimitusjohtaja ja johto |url=https://www.qt.io/fi/investors/governance/management |access-date=2024-05-16 |website=www.qt.io |language=fi}}</ref> who previously served as the CEO of Digia from 2008 to 2016.<ref>{{Cite web |last=Räisänen |first=Perttu |date=2024-05-16 |title=Suomessa on it-alan menestystarina, joka usein jää unhoon – 2 miljardin markkina-arvo vasta alkusoittoa? |url=https://www.tivi.fi/uutiset/suomessa-on-it-alan-menestystarina-joka-usein-jaa-unhoon-2-miljardin-markkina-arvo-vasta-alkusoittoa/8f826f69-a9bd-44ff-8a19-603a68485f09 |access-date=2024-05-16 |website=Tivi |language=fi}}</ref>

Qt Group has core R&D in [[Oslo]], Norway, as well as large engineering teams in [[Berlin]], Germany, and [[Oulu]], Finland. The company also has offices in China, Finland, France, Germany, India, Japan, Norway, South Korea, and the US.<ref name="offices"/>

==Products==
The company provides a software development framework, tools for software design, development, quality assurance and testing, as well as expert consulting services.<ref name=":7" /> Its flagship product is [[Qt (software)|Qt]], a multi-platform Graphical User Interface ([[GUI]]) framework written in [[C++]]. Qt is popular with application developers using C++ but is supported by [[Language binding|bindings]] for other programming languages too, such as [[PyQt|Python]]. Qt also includes packages such as data structures and a networking library. The popular [[Free software|free]] and [[cross-platform]] [[KDE Plasma]] [[desktop environment]] and software compilation uses the Qt library. 

The tools can be used for UI design, programming and quality assurance<ref>{{Cite web |last=Terhemaa |first=Ahti |date=2024-06-20 |title=Qt Group äkkäsi markkinaraon: käyttöliittymät valloittavat laitteet |url=https://www.tivi.fi/uutiset/qt-group-akkasi-markkinaraon-kayttoliittymat-valloittavat-laitteet/963a9260-886c-4d64-91e5-673d62d8eaf2 |access-date=2024-06-20 |website=Tivi |language=fi}}</ref> for mobile and desktop applications, as well as embedded systems, which are used in cars, consumer electronics and domestic appliances, for example.<ref name=":5" />

Qt also earns revenue from licenses for end products developed with its tools.<ref name=":5" />

In 2024, the company’s product portfolio included:<ref name=":7">{{Cite web |title=Qt Group as an investment |url=https://www.qt.io/investors/qt-as-an-investment |access-date=2024-06-20 |website=www.qt.io |language=en}}</ref>

* the Qt development framework and tools

* UI design tools

* quality assurance and testing tools

==Markets==
Qt Group has customers in 70 industries in over 180 countries<ref name=":6" /> and its products are used by approximately 1.5 million developers.<ref name=":7" /> In 2018, its largest markets were the USA, Germany, Japan, South Korea, China, France, the UK, Italy and India.<ref name=":5" /> The company’s customers operate in a wide range of industries, including consumer electronics, the automotive and [[aerospace]] industries, industrial automation, energy, defense, medicine and the media.<ref name=":5" /> Its products are used by companies such as [[Panasonic]], [[LG Electronics]], [[Daimler Motoren Gesellschaft|Daimler-Motoren-Gesellschaft]], [[Mercedes-Benz Group|Mercedes-Benz]]<ref name=":5" /> and [[Hyundai Motor Group]].<ref>{{Cite web |last=Kailio |first=Antti |date=2024-06-20 |title=Qt sai merkittävän asiakkuuden Koreasta |url=https://www.kauppalehti.fi/uutiset/qt-sai-merkittavan-asiakkuuden-koreasta/d3cd6639-e5e2-4bc1-bdb6-c0eb65d8e473 |access-date=2024-06-20 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref> 

[[General Motors]] uses Qt’s user interfaces to design digital interfaces for its vehicles. The Ultifi software platform launched by GM for over-the-air software updates for its vehicles is based on Qt's products.<ref>{{Cite web |last=Mustonen |first=Antti |date=2024-06-20 |title=Qt Group kimppaan amerikkalaisen General Motorsin kanssa – ”Tavoitteena mullistaa autojen käyttäjäkokemus” |url=https://www.kauppalehti.fi/uutiset/qt-group-kimppaan-amerikkalaisen-general-motorsin-kanssa-tavoitteena-mullistaa-autojen-kayttajakokemus/fa9cd1e7-0cfd-43d6-9b3e-a4a2f79036f7 |access-date=2024-06-20 |website=Tärkeimmät talousuutiset {{!}} Kauppalehti |language=fi}}</ref>

==References==
{{Reflist}}

==External links==
* {{Official website|https://www.qt.io/}}
* [https://marketplace.qt.io/ Qt Marketplace]

{{Qt}}
{{Nasdaq Helsinki}}
{{DEFAULTSORT:Qt Company}}
[[Category:Companies formerly listed on the Oslo Stock Exchange]]
[[Category:Companies listed on Nasdaq Helsinki]]
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[[Category:Nokia assets]]
[[Category:Qt (software)]]
[[Category:Software companies of Finland]]
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