Microsoft completes acquisition of Nokia’s devices business
Deal to buy Finnish firm’s unit was announced almost eight months ago
Stephen Elop is set to head up Microsoft’s new devices business as the company completes its purchase of Nokia’s handset unit. Photograph: David Paul Morris/Bloomberg
Microsoft has completed its acquisition of Nokia’s devices and services business, almost eight months after it first announced the deal.
The acquisition has been backed by Nokia shareholders and regulatory agencies, and is another step for Microsoft in transforming its business.
“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 CEO Satya Nadella. “Together with our partners, we remain focused on delivering innovation more rapidly in our mobile-first, cloud-first world.”
The deal creates a new Microsoft devices group, which will be headed up by former Nokia chief executive Stephen Elop and will encompass Lumia smartphones and tablets, Nokia mobile phones, Xbox hardware, Surface, Perceptive Pixel (PPI) products and accessories.
About 25,000 employees around the world will transfer to Microsoft, but the company will not be taking on the facility based in Masan, South Korea,while the factory in Chennai, India, will remain with Nokia due to tax liens on the firm’s assets there.