Microsoft To Acquire Nokia This Friday

All is now set for the official take over of Nokia by Microsoft.

Microsoft’s $7.2-billion acquisition of Finnish Smartphone maker Nokia will be complete on Friday after months of waiting for regulatory approvals in several countries.

“Today we are excited to share that we have completed the steps necessary to finalize Microsoft’s acquisition of the Nokia Devices and Services business,” according to Microsoft general counsel Brad Smith in a blog post. “The completion of this acquisition follows several months of planning and will mark a key step on the journey towards integration. 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.”

To push the deal through, both technology firms had to make adjustments to the original deal by entering into a number of different agreements to address concerns ranging from manufacturing to IT, Smith said.

The changes according to Smith are:
• The two companies agreed Microsoft would manage the domain and social media sites for the benefit of both companies and their customers for up to a year.
• Under the original deal, all employees in Nokia’s Chief Technology Office were to stay with Nokia. Under the new agreement the 21 employees in China working on mobile phones will join Microsoft where they will continue their work.
• Also under the original deal Microsoft was to acquire Nokia’s Korean manufacturing facility. Under the new agreement Microsoft will not acquire the facility after all.

The deal will also bring 32,000 Nokia workers to Redmond. Microsoft and Nokia have been partners since February 2011.

Source sitepronews