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Nokia Devices officially becomes Microsoft's property this week

News by Andrew Kameka on Monday April 21, 2014.

industry news · andrew kameka

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April 25 is the day that Microsoft will officially assume control of the Nokia Devices and Services unit. Microsoft agreed to purchase the Devices unit of Nokia's business for $7.2 billion but delays in approvals from governments held up ed the process. The deal will be closed on Friday April 25.

Nokia will retain its networking business but Microsoft will take over the assets and personnel related to mobile, as spelled out in the original agreement. The two companies have made some adjustments to that agreement so that Microsoft will not take control of Nokia's Korean manufacturing plant. They have also decided that 21 employees slated to stay in the Chinese Chief Technology Office will now work with Microsoft because they worked on mobile phones.

source: Microsoft

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Andrew Kameka
Andrew is based in Miami, Florida.

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