As expected, Microsoft and Nokia today announced that the acquisition of the Nokia Devices & Services business unit is a done deal. Announced almost eight months ago, the US$7.2 billion acquisition sees Microsoft immediately take over Nokia’s Lumia, Asha and Nokia X lines of smartphones, tablets and feature phones. Microsoft will welcome some 25,000 transferring employees (less than the originally announced […]
Mergers and acquisitions
Nokia Devices & Services business acquisition by Microsoft to close on April 25
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 […]
Microsoft to rename Nokia Oyj business unit as Microsoft Mobile Oy?
The Microsoft acquisition of Nokia’s Devices & Services business is expected to close later this month after slipping from its original Q1 date. First announced last September, the US$7.2 billion deal will see Microsoft take over Nokia’s smartphone and tablet business. A leaked letter from Nokia to its business suppliers has apparently revealed the name under which the new wholly-owned Microsoft […]
Mobilicity acquisition by TELUS back on the table
Here we go again. Mobilicity, which has been operating under creditor protection since late September 2013, announced very late yesterday “a proposed going concern transaction” that would see TELUS Mobility acquire the beleaguered carrier for CA$350 million. If this sounds familiar, it’s because it is. TELUS announced back in May 2013 that it would acquire Mobilicity for CA$380 million but […]
Intel acquires wearables company Basis Science
The wearable space may be new but it is evolving quite rapidly. Part of that evolution means consolidation as established companies see younger start-ups as a quick way into the market. Case in point: Intel yesterday announced that it has acquired Basis Science, the company behind the wrist-based Basis Health Tracker. It will become part of Intel’s New Devices Group. […]
Canadian government blocked BlackBerry sale to Lenovo last year
BlackBerry put itself up for sale in August 2013. The move generated a lot of interest from a range of parties including Facebook, Google, Cisco Systems, China’s Lenovo and even RIM’s own co-founders, the company eventually had to settle for a US$1 billion investment in the form of convertible debentures by Fairfax Financial Holdings. According to CBC News, rumours that Lenovo […]
Microsoft acquisition of Nokia Devices & Services business to close in April 2014
Nokia announced today that it expects the Microsoft acquisition of its Devices & Services business group to now close sometime in April. When first announced back in September 2013, the two companies had expected the US$7.2 billion deal to close sometime in Q1 2014. Nokia added that both companies “remain committed to the transaction.” As with most other such deals, […]
Mobilicity looking to extend creditor protection to April 30
Beleaguered carrier Mobilicity is headed back to the courts again to seek a further another extension on its stay of proceedings under Canada’s Companies’ Creditors Arrangement Act (CCAA). The request would extend the stay from March 31 to April 30, 2014 “to provide the Applicants with time to complete the Sale Process and bring forward a transaction or transactions for […]