Microsoft sets official Nokia acquisition completion date…April 22 - 2pm
Microsoft has completed the steps necessary to finalise the company’s acquisition of the Nokia Devices and Services business, with the transaction set to be complete on April 25.
Revealed via Redmond’s Official Blog Post, the completion of this acquisition follows several months of planning and according to the tech giant, “will mark a key step on the journey towards integration.”
“This acquisition will help Microsoft accelerate innovation and market adoption for Windows Phones,” wrote Brad Smith, General Counsel & Executive Vice President, Legal & Corporate Affairs, Microsoft.
“In addition, we look forward to introducing the next billion customers to Microsoft services via Nokia mobile phones.
“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.”
According to Smith, Microsoft has 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, the two companies have agreed that Microsoft will manage the nokia.com domain and social media sites for up to a year.
· The original deal had all employees in Nokia’s Chief Technology Office continuing with Nokia. Redmond has adjusted the agreement slightly 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.