Microsoft Now Officially Owns Nokia's Phone Business
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Microsoft's acquisition of Nokia's Devices and Services business is now complete, both companies have announced.
The $7.2 billion deal, originally announced in September 2013, was approved by Nokia shareholders one month later, and has now been approved by governmental regulatory agencies around the world.
“Today we welcome the Nokia Devices and Services business to our family. The mobile capabilities and assets they bring will advance our transformation,” said Microsoft CEO Satya Nadella.
Stephen Elop chimed in with a similarly worded open letter. "As Microsoft and Nokia Devices and Services come together as an expanded family, we will unify our passion, dedication and commitment to bringing you the best of what our joint technologies have to offer (...) From today onwards, the possibilities are endless. As now, we’re one," he wrote.
Microsoft's press release seems to confirm a recently leaked memo, which indicated Microsoft would be renaming Nokia to Microsoft Mobile.
"Microsoft refers to Microsoft Corp. and its affiliates, including Microsoft Mobile Oy, a subsidiary of Microsoft. Microsoft Mobile Oy develops, manufactures and distributes Lumia, Asha and Nokia X mobile phones and other devices," writes Microsoft.
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Huat.