Microsoft’s acquisition of Nokia’s devices and services has been completed after an eight months process. The sh625 billion deal has finally been approved by Nokia shareholders and governmental regulatory agencies around the world.
Under the agreement, the acquisition will see Microsoft manage the Nokia.com domain and social media sites for at least a year. Microsoft has however refrained from buying Nokia’s Korea manufacturing facility.
Microsoft CEO said, “Together with our partners, we remain focused on delivering innovation more rapidly in our mobile-first, cloud first world.”
The deal revealed that the Asha and Lumia trademarks will transfer to Microsoft. Nonetheless, the Nokia mark will remain the property of the Finnish company. It may only be used on feature phones under a 10- year license arrangement.
The new addition to Microsoft will be overseen by Stephen Elop, former President and CEO of Nokia, who will report to Nadella as Microsoft devices Group’s executive vice president. Elop will also manage expanded devices business that includes Nokia mobile phones, Lumia smartphone, tablets, Xbox hardware perspective Pixel (PPI) products and accessories as well as surface.
Microsoft is now at risk to balance the responsibilities of shipping its own hardware to compete with its own licensee, while still creating a successful platform.