Nokia and Microsoft both expect the acquisition of Nokia's handset unit to close in April. The two companies sent out their own press releases moments ago announcing an update on the acquisition. The regulatory process is expected to close sometime during next month. As we previously reported, the two companies had hoped to finish the deal sometime before mid-April. However, rulings in India and regulatory pause by Asian parties over potential patent abuse slowed the process.
Back in September, Microsoft announced plans to buy Nokia’s devices and services business for $7.3 billion. The deal will see around 32,000 Nokia employees go to Microsoft. In addition, Microsoft will acquire manufacturing plans and license Nokia’s patent portfolio.
“The completion of this acquisition will mark the first step to bring Microsoft and the Nokia Devices and Services business together. Our acquisition will accelerate our mobile-first, cloud-first imperatives”, said Brad Smith, general counsel and executive president at Microsoft. “We’re looking forward to accelerating innovation and market adoption for Windows Phones and introducing the next billion customers to Microsoft services via Nokia mobile phones.”
Nokia’s press release stressed that the tax proceedings in India will have no impact on the timing or closing to the deal.
Announcement at Build 2014 or a little bit later? Place your bets below.
Source: Microsoft, Nokia