Microsoft and Nokia have closed out all of the last-minute transactional details. On Friday, Microsoft is expected to officially complete its acquisition of Nokia’s handset group, This is according to an announcement on its blog on Monday.
”Today we are excited to share that we have completed the steps necessary to finalize Microsoft’s acquisition of the Nokia Devices and Services business. The transaction will be completed this Friday, April 25, when we’ll officially welcome the Nokia Devices and Services business as part of the Microsoft family.” the post said
The completion of this acquisition follows several months of planning and will mark a key step on the journey towards integration. This acquisition will help Microsoft accelerate innovation and market adoption for Windows Phones. Microsoft said it looks forward to introducing the next billion customers to Microsoft services via Nokia mobile phones.
The $7.17 billion deal was announced last September, though some delays prevented the companies from meeting their first-quarter closing deadline. Nokia is effectively splitting in two. It’s storied, but recently struggling, handset division, will become Microsoft’s mobile device group. Meanwhile, Nokia’s telecom infrastructure group Nokia Solutions and Networks, or NSN, and its location, commerce and connected car group, called Here, will continue on as a separate company.
As with any multinational agreement of this size, scale and complexity, our two companies have made adjustments to the original deal throughout the close preparation process. We’ve entered into numerous agreements to address items ranging from manufacturing to IT. These include the following:
While the original deal did not address the management of online assets, Microsoft and Nokia have agreed that Microsoft will manage the nokia.com domain and social media sites for the benefit of both companies and our customers for up to a year.
The original deal had all employees in Nokia’s Chief Technology Office continuing with Nokia. The company has however adjusted the agreement so the 21 employees in China working on mobile phones will join Microsoft and continue their work.
”The original deal had Microsoft acquiring Nokia’s Korean manufacturing facility. The agreement was adjusted and Microsoft will not acquire the facility”
By Nixon Kanali