Nokia-Microsoft Deal to Close Friday, With a Couple Tweaks
Microsoft said Monday that it expects its deal to acquire Nokia’s phone unit to close on Friday — with a couple minor changes.
Under the revised deal, Microsoft will no longer acquire Nokia’s Korean manufacturing plant. Instead, it will take on 21 people working in China that had been part of Nokia’s chief technology office, the rest of which is sticking with Nokia.
Microsoft will also manage Nokia.com and Nokia’s social media presence for up to a year following the deal’s close.
“The completion of this acquisition follows several months of planning and will mark a key step on the journey towards integration,” Microsoft general counsel Brad Smith said in a blog post. “This acquisition will help Microsoft accelerate 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.”
The deal, announced last year, had been slated to close by the end of March, but finalizing it and gaining approvals in China and elsewhere took a bit longer than expected.