Nokia acquisition closure will create ‘Microsoft Mobile Oy’.
Microsoft has confirmed that its acquisition of Nokia’s mobile phone business will close on Friday April 25, and also said that there will be changes to the original acquisition terms of the first agreed $5.4bn deal.
Microsoft said that the "steps necessary to finalise" the deal had been completed.
Furthermore, Nokia has confirmed that it will change its handsets brand name with the completion of the acquisition. In a leaked email to registers users, Nokia said: "With the completion of this transaction, a Microsoft Finnish affiliate assumes responsibility for your personal data and the contractual relationships for the products and services related to this business. Microsoft cares deeply about your privacy and the protection of your personal data and will continue to collect and use your personal data in the same ways and for the same reasons as Nokia, and you should experience no difference as a result of the sale."
"Please note that upon the close of the transaction between Microsoft and Nokia, the name of Nokia Corporation/Nokia Oyj will change to Microsoft Mobile Oy. Microsoft Mobile Oy is the legal entity name that should be used for VAT IDs and for the issuance of invoices."
Writing on a blog post, Microsoft general counsel Brad Smith wrote: "The transaction will be completed this Friday, April 25, when we’ll officially welcome the Nokia Devices and Services business as part of the Microsoft family."
The deal has encountered many delays, and was originally meant to close in the first quarter for 2014, with the target then being shifted to April 2014. The late April date almost misses this deadline as well, but the deal closure process was caught up in legal issues, especially in China where there were concerns over patent policy.
However, Smith made no comments in the blog post about a possible name rebranding for Nokia.
Microsoft will commandeer the nokia.com domain and Nokia’s social media sites for at least one year, and Nokia’s remaining Finnish section will move its concentration to Nokia’s HERE mapping and Nokia Solutions and Networks telecoms group.