Nokia - Microsoft Deal Completes On April 25

By 06:18 Mon, 19 Jul 2021 Comments

Nokia and Microsoft had already received green light for the merger from the European Commission and the US Department of Justice long ago and the Chinese regulatory authorities also gave their approval for the merging of Nokia with Microsoft just a few days ago.

Microsoft has now officially announced that they have completed all the steps necessary to finalize the acquisition of the Nokia Devices and Services business. The transaction will be completed on April 25.

Meanwhile, there have been some adjustments to the original deal and the recent agreement will now allow Microsoft to manage online assets of Nokia that include domain and other social media sites.

While the original offer had all the employees in Nokia's Chief Technology Office continuing with Nokia, that has been adjusted and now all 21 execs in China will join Microsoft. Lastly, the acquisition included the Nokia's Korean manufacturing facility, but the deal will complete without Microsoft taking control over it.

It took more than 7 months to complete the acquisition after Microsoft broke the news, but nevertheless it's finally done!




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