Microsoft’s acquisition of Nokia’s Devices and Services business has been completed, ending months of approvals and negotiations.
HumanIPO reported earlier this week the acquisition was expected to be completed today.
“Today we welcome the Nokia Devices and Services business to our family. The mobile capabilities and assets they bring will advance our transformation,” said Microsoft chief executive officer (CEO) Satya Nadella.
“Together with our partners, we remain focused on delivering innovation more rapidly in our mobile-first, cloud-first world.”
Former Nokia president Stephen Elop, who will now report to Nadella, will serve as executive vice president of Microsoft’s Devices Group, overseeing an expanded devices business.
“Microsoft will target the affordable mobile devices market, a US$50 billion annual opportunity, delivering the first mobile experience to the next billion people while introducing Microsoft services to new customers around the world,” the company said.
However it said details of the deal had been amended in order to address items ranging from manufacturing to IT.
According to Microsoft, as part of the amendments, the company would not be taking over the Nokia plans in Masan, South Korea and Chennai, India.
Theexclusion of the Indian plant is a result of a tax dispute, resulting in it being used as a contract manufacturing unit for Microsoft.
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