Microsoft Completes Assimilation of Nokia

The process that began back in September is now complete: Microsoft has finished subsuming Nokia’s Devices & Services business. Nokia said in a statement that the final transaction price will be slightly higher than the originally-announced 5.44 billion euros.

Among the adjustments to the final details, Microsoft is not getting Nokia’s manufacturing facilities in Chennai, India nor Masan, Korea. The Chennai plant is having tax problems, and Indian authorities have frozen its assets; instead of Microsoft taking it over, Nokia has agreed to make mobile devices for Microsoft.

Microsoft Nokia deal

The Masan facility, which employs some 200 people, is simply going to close down. Nokia has pledged to provide support and assistance to workers at both facilities.

As part of the deal, a number of Nokia executives are moving over to Microsoft today, including Stephen Elop, Jo Harlow, Juha Putkiranta, Timo Toikkanen, and Chris Weber.

The deal effectively marries Nokia smartphone with Microsoft’s Windows Phone platform, which was already a cozy relationship thanks to the leadership of former-now-current Microsoft employee Elop
Via:  Nokia
Post a Comment
or Register to comment