Microsoft has jumped another hurdle in their $7 billion dollar acquisition of Nokia’s Devices and Services unit, as the U.S. Department of Justice has given the all clear to the deal.
Dated November 29th, but released today due to the holiday, the DoJ document was posted on the FTC website. All of the relevant Nokia divisions and subsidiaries were listed with a ‘G’ for ‘granted’ as the deal was unconditionally approved by the US government. That decision comes after Nokia shareholders sanctioned the transaction on November 19 with overwhelming confidence, marking a significant milestone in the massive deal.
Announced back at the beginning of September, Microsoft finally agreed to purchase Nokia’s Devices and Services unit for $7 billion. The move was seen as necessary due to Nokia’s increasing prominence and importance to the Windows Phone platform. Nokia now controls 90% of the Windows Phone market, according to the latest figures from AdDuplex released last week, and allowing the struggling Finnish firm to fall into a competitor’s hands was not an option for the OS maker.
The next goal for the deal to be finalized will come from approval from the European Union, due in the coming days (or weeks). The acquisition by Microsoft is expected to be completed in early 2014 and it looks to be on track, with no holdups expected.