Nokia–Microsoft Deal Now Complete

Nokia completes sale of substantially all of its Devices & Services business to Microsoft

Nokia has handed over its entire phone business to Microsoft for EUR 5.44 billion. In addition to Nokia’s phone business, all related license patents are now a part of Microsoft. All assets will also be transferred to the Redmond Giant.

Nokia’s manufacturing facilities in Chennai in India and Masan in the Republic of Korea are not being transferred currently to Microsoft. The Indian facility is still subject to asset freeze by tax authorities due to ongoing tax proceedings.

As for as its Korean facility is concerned, both companies have agreed to exclude the Masan facility from the scope of the transaction. Nokia will now take steps to close the facility, which employs approximately 200 people.

Nokia Microsoft deal

Nokia is arranging a Board of Directors meeting for early next week in relation to its strategy assessment which was originally disclosed on September 3, 2013.

Related topics