According to Microsoft their buyout of Nokia’s Devices and Services business will finalise on April 25th, a date which comes after the company first set into the agreement last Autumn, with a number of bad situations for Nokia, with delays whilst they wait for the “regulatory process for approval”, as well as some problems within various countries for other issues.
“The completion of this acquisition follows several months of planning and will mark a key step on the journey towards,” said Brad Smith, General Counsel and Executive Vice President of Legal & Corporate Affairs at Microsoft, in a statement. “This acquisition will help Microsoft accelerate innovation and market adoption for Windows Phones.”
The deal will come with some amendments however, with more items added such as the addition of manufacturing and IT devisions, as well as allowing Microsoft to gain control of the Nokia.com domain name and other related social media website for up to a year.
Alongside this, Microsoft will also acquire Nokia’s Chief Technology Office, alongside 21 employees from China, who will continue to work on mobile phones within the new company.
Microsoft will also no longer be including Nokia’s Korean manufacturing facility.
The former CEO of Nokia, Stephen Elop, will also assume his position as head of Microsoft devices and services.