Nokia-Microsoft Deal To Get Finalized This Week
Nokia and Microsoft are finally sealing the deal this Friday, April 25th months after the companies’ initial announcement back in September of last year. The acquisition has reportedly cost Microsoft over US$7 billion, 70% of which will be allotted for the purchase of Nokia’s businesses while the remaining 30% will be used to purchase the Finnish company’s patents…
Nokia and Microsoft are finally sealing the deal this Friday, April 25th months after the companies’ initial announcement back in September of last year.
The acquisition has reportedly cost Microsoft over US$7 billion, 70% of which will be allotted for the purchase of Nokia’s businesses while the remaining 30% will be used to purchase the Finnish company’s patents. Microsoft will also manage the Nokia.com domain and the company’s social media networks for a year, while former Nokia CEO Stephen Elop will head Microsoft’s devices group under Satya Nadella.
Moreover, Nokia’s legal name – Nokia Oyj will be changed to Microsoft Mobile Oy after the acquisition. This will be the legal entity name that the company will used for VAT IDs and for the issuance of invoices, signifying the company as a fully-owned subsidiary of Microsoft.
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