Microsoft, Nokia Merger Deal: Microsoft Acquisition Completed by April 25, Confirms Executive Brad Smith
Seven months later, the Microsoft acquisition of Nokia's mobile division is near complete.
According to Microsoft's General Counsel and Executive Vice President of Legal and Corporate Affairs Brad Smith, the transaction will be completed Friday, April 25. Microsoft first announced its plans to acquire Nokia Devices and Services in September 2013 in a move worth $7.2 billion.
"It's a bold step into the future -- a win-win for employees, shareholders and consumers of both companies," said Microsoft Chief Executive Officer Steve Ballmer in a statement last September. "Bringing these great teams together will accelerate Microsoft's share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services."
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Smith noted the acquisition will help Microsoft "accelerate" its "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," Smith added.
During the seven-month process, Microsoft and Nokia made adjustments to their original idea ranging from IT to manufacturing. One adjustment Microsoft recently confirmed is who will manage Nokia.com and its social media sites. Smith announced Microsoft will manage the Nokia sites for the "benefit of both companies and out customers" for at least the first year.
A second adjustment involved facilities in Asia. Originally, the employees of Nokia's Chief Technology Office would stay with Nokia, however, the 21 employees in China will join Microsoft. A Korean manufacturing facility was planned to be acquired by Microsoft, but this plan was dropped. It was not revealed as to what will become with the manufacturing facility.
According to Microsoft last September, the deal was projected to be approved during early 2014 but awaited approvals from agencies in Brazil, Canada, China, European Union, India and the United States, to name a few.
"Building on our successful partnership, we can now bring together the best of Microsoft's software engineering with the best of Nokia's product engineering, award-winning design, and global sales, marketing and manufacturing," said Nokia's then-President and CEO Stephen Elop last September, who transitions to Executive Vice President of Devices and Services. "With this combination of talented people, we have the opportunity to accelerate the current momentum and cutting-edge innovation of both our smart devices and mobile phone products."
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