MICROSOFT COMPLETED its buyout of Nokia's devices business eight months after the deal was announced on Fridy, as expected, which sees the Finnish phone firm become Microsoft Mobile.
Microsoft CEO Satya Nadella said in a statement, "Today we welcome the Nokia Devices and Services business to our family. The mobile capabilities and assets they bring will advance our transformation.
"Together with our partners, we remain focused on delivering innovation more rapidly in our mobile-first, cloud-first world.
Microsoft will pay €3.79bn for Nokia's devices business, plus another €1.65bn to license its portfolio of patents, for a total of €5.44bn. Nokia noted, however, that the total transcation price might be slightly more than originally expected, although it didn't offer any further details.
Nokia told The INQUIRER in a statement, "We are excited to welcome the Nokia Devices and Services business into Microsoft. We look forward to building on our existing partnership and our deep industry experience to expand our mobile offerings around the world.
"Today is an important milestone in the future of Microsoft. The integration work begins today and of course will take some time to complete."
More than 25,000 staff will be moving from Nokia to join Microsoft, including Jo Harlow, Juha Putkiranta, Timo Toikkanen, Chris Weber and, of course, Stephen Elop, who becomes EVP of devices at the Redmond firm.
What's more, the closure of the deal sees Microsoft taking control of more than 90 percent of Windows Phone devices, with Nokia - up until now - continuing to account for the majority of smartphones running Microsoft's mobile operating system. Of course, the firm will also now own the Asha line and Android powered Nokia X smartphones.
While some have warned that Microsoft's canning of the Nokia brand could spell trouble for its smartphone success and that it's dominance could put off other Windows Phone handset makers, Microsoft seems optimistic.
It said in a statement on Friday, "Microsoft will continue to deliver new value and opportunity, and it will work closely with a range of hardware partners, developers, operators, distributors and retailers, providing platforms, tools, applications and services that enable them to make exceptional devices.
"With a deeper understanding of hardware and software working as one, the company will strengthen and grow demand for Windows devices overall."
It is expected, though not confirmed, that Microsoft will not use the Nokia brand going forward, but will use the brand Microsoft Mobile instead. µ