Software, services and solutions provider Microsoft Corp. recently announced the completion of its acquisition of the Nokia Devices and Services business, which is finally approved by Nokia shareholders and governmental regulatory agencies worldwide.
According to the technology major’s media statement, the acquisition marks the first step in bringing these two organisations together as one team.
“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.”
Following this acquisition, former Nokia President and CEO Stephen Elop is now serving as executive vice president of the Microsoft Devices Group. Reporting to Nadella, his new role involves overseeing an expanded devices business that includes Lumia smartphones and tablets, Nokia mobile phones, Xbox hardware, Surface, Perceptive Pixel (PPI) products, and accessories.
Additionally, the vendor highlights that Microsoft will not acquire the factory in Masan, South Korea; and the factory in Chennai, India, will stay with Nokia due to the tax liens on Nokia’s assets in India that prevent transfer. As a result, Microsoft will welcome approximately 25,000 transferring employees from around the world.
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