Mi­crosoft to com­plete pur­chase of Nokia’s hard­ware biz

Daily Trust - - BUSINESS -

Mi­crosoft has an­nounced that it will com­plete its pur­chase of the pre­pon­der­ance of Nokia’s hard­ware as­sets on Fri­day. The deal has un­der­gone mi­nor ad­just­ment since its ini­tial for­mu­la­tion.

Ini­tially, the Mi­crosoft­Nokia ar­range­ment was ex­pected to be con­cluded in the first quar­ter of 2014. In­ter­na­tional hangups pushed that date into the cur­rent quar­ter. The com­pany an­nounced that they ex­pected the deal to close in April, the cur­rent month. They made that tar­get.

What changed in the deal through­out its con­clu­sory pro­ceed­ings? Mi­crosoft won’t pick up a Korean “man­u­fac­tur­ing fa­cil­ity,” 21 Nokia em­ploy­ees that were not part of the orig­i­nal agree­ment will trans­fer to Mi­crosoft, and Red­mond will “man­age the nokia. com do­main and so­cial me­dia sites for the ben­e­fit of both com­pa­nies and our cus­tomers for up to a year.” All told, these are mi­nor ad­just­ments when stood next to the $7.2bn deal that will see Mi­crosoft es­sen­tially hire tens of thou­sands of Nokia em­ploy­ees.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.