Nokia today announced that it has completed the acquisition of substantially all of its Devices & Services business to Microsoft, following approval by Nokia shareholders and by governmental regulatory agencies around the world.. The transaction was originally announced back on September 3, 2013.
In an official post on Nokia's Conversations Blog, Stephen Elop stated that Nokia was excited about building technology that will change the world and that they would continue their mission in connecting the next billion through mobile devices. He also went on to say that Nokia will remain committed to continuing support for feature phones, Asha family and Nokia X family alongside the Nokia Lumia series.Microsoft also acknowledged the transaction on their website, stating that the deal marked an important step in bringing these two organizations together as one team, a process that is expected to take 18 to 24 months to complete.
Stephen Elop, former Nokia President and CEO, will serve as executive vice president of Microsoft’s Devices and Studios Group, reporting to Microsoft CEO Satya Nadella. Elop will lead an expanded team made up of Xbox, Xbox Live, Microsoft Studios, Microsoft Hardware, Surface and Nokia Devices and Services.
Microsoft refers to Microsoft Corporation and its affiliates, including Microsoft Mobile Oy, a subsidiary of Microsoft Corporation. Microsoft Mobile Oy develops, manufactures and distributes Lumia, Asha and Nokia X mobile phones and other devices.
source - Microsoft | Nokia
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