Microsoft and Nokia have been in negotiations for quite a while now trying to finalize Microsoft’s acquisition of the Finnish mobile giant. Microsoft expressed interest in Nokia late last year to the surprise of many who thought it was a ridiculous move that was bound to fail due to corporate bottlenecks. This was not the case and the acquisition has been gaining momentum for the past few months.
A lot has changed over these few months with the biggest one being Nokia X, the android powered Smartphone from Nokia (soon to be Microsoft’s subsidiary). The Nokia X was received very well and we are still not sure if Microsoft will keep it when it fully acquires Nokia.
The final acquisition process is awaiting regulatory approval in Asia. This approval will most likely be finalised by the end of April according to Nokia.
This deal is worth over $7.2 billion and will see Microsoft acquire the mobile division of Nokia. Nokia had this to say in a statement, “Nokia and Microsoft continue to be confident that the transaction will close, resulting in the sale of substantially all of Nokia’s Devices & Services business to Microsoft, and both companies are working diligently to close the transaction as expeditiously as possible.”
We all hope the deal goes through and we will be waiting to see what the merger will mean for both Nokia and Microsoft in terms of product penetration.