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Nokia and Microsoft on Monday announced that they would close their $7.2 billion deal on April 25. The announcement came around a day after the leak of a letter Nokia had sent to its suppliers, telling them that its phone division, which Microsoft had bought for $7.2 billion, would be now known as Microsoft Mobile.
"Nokia expects the transaction whereby the company will sell substantially all of its Devices & Services business to Microsoft to close on April 25, 2014. The transaction is now subject only to certain customary closing conditions. The transaction was originally announced on September 3, 2013," said Nokia.
Microsoft added that the deal now also included Nokia's online assets. "Our two companies have agreed that Microsoft will manage the nokia.com domain and social media sites for the benefit of both companies and our customers for up to a year," said Brad Smith, executive vice president (legal & corporate affairs) at Microsoft.
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Source: Times of India
"Nokia expects the transaction whereby the company will sell substantially all of its Devices & Services business to Microsoft to close on April 25, 2014. The transaction is now subject only to certain customary closing conditions. The transaction was originally announced on September 3, 2013," said Nokia.
Microsoft added that the deal now also included Nokia's online assets. "Our two companies have agreed that Microsoft will manage the nokia.com domain and social media sites for the benefit of both companies and our customers for up to a year," said Brad Smith, executive vice president (legal & corporate affairs) at Microsoft.
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Source: Times of India
