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What you need to know about Microsoft's acquisition of Nokia
Nokia hasn't always been a phone manufacturer. The company dabbled in paper products, footwear and tires before it became involved in the wireless industry. Starting today, it begins a new chapter as its Devices and Services division gets swallowed up by Microsoft in a $7 billion deal. Change is in the air, but very little is known about what exactly will be different now that the two companies are coming together in holy matrimony. Neither party was legally allowed to discuss details about the acquisition in public. Today, Microsoft gets to flip the switch and Nokia gets to switch its business cards. (A shame, since its cards are very happy-go-lucky.) But this is just the beginning of a lengthy move-in process in which the two companies can finally start working together as one. Chances are we'll still be asking questions about the merger several months down the road, but as execs explained to us, these kinds of procedures take time to get everything sorted out. For now, what should we know about the merger?
Microsoft and Nokia finally tying the knot on April 25th
Let the wedding bells ring! Microsoft announced this morning that it finally has something we've been curious about since September: the actual date the company will complete its proposed acquisition of Nokia's devices and services business. In a blog post, Microsoft's General Counsel Brad Smith explained that all of the legal hurdles have been cleared and that the merger will officially take place this Friday, April 25th. "We look forward to introducing the next billion customers to Microsoft services via Nokia mobile phones," Smith said. Microsoft will manage the Nokia.com domain and the company's social media presence for up to a year, and former Nokia CEO Stephen Elop will be in charge of Microsoft's devices group, reporting directly to CEO Satya Nadella. Aside from this, Microsoft has been pretty tight-lipped on details about what the post-acquisition world will be like, mainly due to legal restrictions. After this Friday, however, we hope the company will open up a bit more about what we can expect going forward.
