Microsoft's Acquisition of Nokia to Close April 25
Nokia will finalize the sale of its handset business to Microsoft on April 25, the company said today. The deal, first proposed last September, has Microsoft acquiring the Devices & Services business from Nokia, which will retain its network business and HERE Maps business. The transaction has already been approved by regulators in the U.S., Europe, and Asia, and has been approved by the boards of both Microsoft and Nokia. According to Microsoft there are a few changes to the agreement: Microsoft will manage the Nokia.com domain name and social media sites for a year; Nokia will transfer 21 employees from Nokia's Chief Technology Office in China to Microsoft; and Microsoft will no longer acquire Nokia's manufacturing plant in Korea. Once the sale is complete, Microsoft will officially become a manufacturer of smartphones, putting it more directly into competition with Apple and Google.