Microsoft has announced it's completed its acquisition of the Nokia
Devices and Services business. The acquisition has been approved by
Nokia shareholders and by governmental regulatory agencies around the
world. The completion of the acquisition marks the first step in
bringing these two organizations together as one team.
“Today we
welcome the Nokia Devices and Services business to our family. The
mobile capabilities and assets they bring will advance our
transformation,” said Microsoft CEO Satya Nadella. “Together with our
partners, we remain focused on delivering innovation more rapidly in our
mobile-first, cloud-first world.”
Reporting to Nadella is former
Nokia President and CEO Stephen Elop, who will serve as executive vice
president of the Microsoft Devices Group, overseeing an expanded devices
business that includes Lumia smartphones and tablets, Nokia mobile
phones, Xbox hardware, Surface, Perceptive Pixel (PPI) products, and
accessories. Microsoft welcomes personnel with deep industry experience
in more than 130 sites across 50 countries worldwide, including several
factories that design, develop, manufacture, market and sell a broad
portfolio of innovative smart devices, mobile phones and services. As
part of the transaction, Microsoft will honor all existing Nokia
customer warranties for existing devices, beginning April 25, 2014.
As
with any multinational agreement of this size, scale and complexity,
Microsoft and Nokia have made adjustments to the deal throughout the
close preparation process. As announced previously, Microsoft will not
acquire the factory in Masan, South Korea, and the factory in Chennai,
India, will stay with Nokia due to the tax liens on Nokia’s assets in
India that prevent transfer. As a result, Microsoft will welcome
approximately 25,000 transferring employees from around the world.
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