In a short press release issued today, Nokia said today that Microsoft’s acquisition of the Nokia Devices & Services business is now expected to close on April 25, 2014. The US$7.2 bilion deal was first announced in early September 2013. Initially expected to close in Q1 2014, it was delayed by the process to obtain all necessary regulatory approvals
Nokia today announced that it expects the transaction whereby the company will sell substantially all of its Devices & Services business to Microsoft to close on April 25, 2014. The transaction is now subject only to certain customary closing conditions.
The transaction was originally announced on September 3, 2013.
For its part, Microsoft announced revealed today that a few relatively small modifications were made to the deal:
- Microsoft will manage the nokia.com domain and social media sites for the benefit of both companies and our customers for up to a year.
- An additional 21 employees working on mobile phones in Nokia’s Chief Technology Office in China will move over to Microsoft rather than stay with Nokia
- Microsoft will not acquire Nokia’s Korean manufacturing facility as originally agreed
With the deal set to close later this week, we will see very soon whether Microsoft will rename its new mobile division to Microsoft Mobile Oy as reported yesterday.
Sources : Nokia // Official Microsoft Blog