Nokia, Microsoft to close deal on Friday
Nokia to finally become part of Microsoft, eight months after first announcement
Microsoft has announced that it will close the $7.2bn acquisition of Nokia's handset business on Friday, according to online reports.
The announcement was made in a blog post on Monday by Brad Smith, general counsel and executive vice president at Microsoft, eight months after the deal was originally revealed.
"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," Smith wrote.
"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. In addition, we look forward to introducing the next billion customers to Microsoft services via Nokia mobile phones."
According to reports, there had been delays in finalising the deal due to legal disputes with various governments worldwide. While most jurisdictions were fairly quick to give the go-ahead, others such as China were said to be holding out over concerns over patent policy.
Smith's blog also noted last-minute changes to the acquisition deal including a transfer of 21 Nokia employees based in China to Microsoft; the cancellation of the transfer of Nokia's manufacturing facility in Masan, South Korea, to Microsoft; and Microsoft's plan to manage the nokia.com domain and Nokia's social media sites for up to a year.
Changes to management within the two companies include Satya Nadella replacing Microsoft CEO Steven Ballmer who stepped down after presiding over the deal and Stephen Elop, former CEO of Nokia will continue to head the Nokia division and lead the subsidiary, which will have more than 30,000 employees. Elop will report to Nadella.
According to UK-based tech site The Register, the remaining Finnish portion of Nokia has said it plans to concentrate on non-phone businesses, including its HERE mapping division, the Nokia Solutions and Networks telecoms group, and future tech like self-driving cars.