Nokia-Microsoft deal finalised
Microsoft has finalised the acquisition of Finnish vendor Nokia’s mobile phone business.
Following a delay in the process in March, the final sale price for Nokia’s mobile phone business to the US-based corporation, along with licences for its patents, is expected to rise slightly from the previously announced price of €5.44 billion.
The companies have agreed to leave two factories in India and South Korea out of the deal.
Due to a tax dispute with Indian authorities, Nokia plans to operate the factory in Chennai as a contract manufacturing unit for Microsoft. Plans to close the Nokia factory in Masan, South Korea, have also been announced.
"Today we welcome the Nokia Devices and Services business to our family. The mobile capabilities and assets they bring will advance our transformation," said Satya Nadella, CEO at Microsoft. "Together with our partners, we remain focussed on delivering innovation more rapidly in our mobile-first, cloud-first world."