The last thing we heard about the deal between Nokia and Microsoft was that it would be concluded on the 25th of April, and last week Nokia announced the completion of the sale of their mobile and services division to Microsoft.
Microsoft now owns Nokia’s Devices & Services business, which includes the Lumia brand for Windows Phone smartphones, the deal also include a number of patent license agreements between the two companies.
As earlier communicated, the transaction was subject to potential purchase price adjustments. The estimate of the adjustments made for net working capital and cash earnings was slightly positive for Nokia, and we currently expect the total transaction price to be slightly higher than the earlier-announced transaction price of EUR 5.44 billion after the final adjustments are made based on the verified closing balance sheet.
Additionally, as is customary for transactions of this size, scale and complexity, Nokia and Microsoft made certain adjustments to the scope of the assets originally planned to transfer. These adjustments included Nokia’s manufacturing facilities in Chennai in India and Masan in the Republic of Korea not transferring to Microsoft. These adjustments have no impact on the material deal terms of the transaction and Nokia will be materially compensated for any retained liabilities.
You can find out more details about the conclusion of the Nokia and Microsoft deal over at Nokia at the link below.