Nokia’s downsizing continued today with the sale of its Qt business to software company Digia.

Financial terms of the deal weren’t made public, but financial analysts told Reuters that Digia paid just a “fraction” of what Nokia paid for the assets during its 2008 acquisition of Trolltech.

Qt was a core part of Nokia’s Symbian platform strategy before the company abandoned the operating system in favor of Microsoft’s Windows Phone.

“Digia’s plans to acquire Qt mean that it can continue as a successful open source project and also offer continuing employment for many people in the community,” Nokia strategy executive Sebastian Nystrom said in a statement.

Digia’s purchase of Nokia’s Qt software technology and business comes after the company bought Nokia’s Qt commercial licensing business last year.

“Now is a good time for everyone to revisit their perception of Qt,” Tommi Laitinen, Digia’s senior vice president of international products, said in today’s announcement.

The company will continue to invest in Qt and aims to make it the “leading cross-platform development framework” under both open sources and commercial licenses. It said it will “quickly enable” Qt on Android, iOS and Windows 8 once the acquisition closes, expanding the software beyond its use in the Symbian platform.

The next version of the software, Qt5, is still in the works.

Digia said it also plans to invest in research and development to “bring back focus” on Qt’s desktop and platform support.

Up to 125 Nokia employees mainly located in Norway and Germany will transfer to Digia as part of the transaction.  Nokia has sold off  a number of its businesses and significantly reduced its workforce

The Digia deal wasn’t Nokia’s only transaction today. Separately, Vringo announced it had agreed to buy more than 500 global patents and patent applications from Nokia for an undisclosed cash payment and ongoing rights to money generated by the intellectual property assets.

The patents include 109 issued in the United States and cover key wireless technologies including GSM, WCDMA and LTE.

Vringo is looking to raise $31.2 million through a stock sale to finance the deal. The money will also be used to pay off some of its debt and fund its operations.

The patent purchase follows Vringo’s recent merger with Innovate/Protect, a merger aimed at shifting the company’s focus away from its foundering video ringtone business toward the more lucrative market for intellectual property licensing.