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Trolltech was founded by Eirik Chambe-Eng and Haavard Nord on 4 March 1994. They started writing Qt in 1991, and since then Qt has steadily expanded and improved. Trolltech completed an initial public offering (IPO) on the Oslo Stock Exchange in July, 2006.

On 28 January 2008, Nokia Corporation announced that they had entered into an agreement that Nokia would make a public voluntary tender offer to acquire Trolltech.

The total cost for Nokia was approximately € 104 million. 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.

Nokia sold the commercial licensing business of Qt to Digia on March 2011. In September 2012, all remaining Qt business was transferred to Digia.

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