News
 

Bookmark and Share

(0) 

The extraordinary general meeting of Nokia Corp. held on November 19, 2013 decided to confirm and approve the sale of substantially all of Nokia's devices and services business to Microsoft in line with the proposal and recommendation of the Nokia board of directors. More than 99 % of the votes cast at the EGM were in favor of this proposal.

"This is a significant step forward for Nokia. We are delighted that shareholders have given us overwhelmingly strong support to proceed with this transformative agreement. Today's vote brings us closer to completing a transaction which will mark the beginning of the next chapter in Nokia's near 150-year history, offering the potential of greater value for shareholders," said Risto Siilasmaa, chairman and interim CEO of Nokia.

Microsoft Corp.and Nokia Corp. announced is early September that the boards of directors for both companies have decided to enter into a transaction whereby Microsoft will purchase substantially all of Nokia’s devices & services business, license Nokia’s patents, and license and use Nokia’s mapping services. Under the terms of the agreement, Microsoft will pay €3.79 billion ($4.996 billion) to purchase substantially all of Nokia’s devices & Services business, and €1.65 billion ($2.1745 billion) to license Nokia’s patents, for a total transaction price of €5.44 billion ($7.1691 billion) in cash.


Nokia headquarters

The transaction is expected to close in the first quarter of 2014, subject to regulatory approvals and other customary closing conditions. The transaction was originally announced on September 3, 2013.

Tags: Nokia, Microsoft, Business, Lumia

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Monday, April 14, 2014

8:23 am | Microsoft Vows to Release Xbox 360 Emulator for Xbox One. Microsoft Xbox One May Gain Compatibility with Xbox 360 Games

Tuesday, April 1, 2014

10:39 am | Microsoft Reveals Kinect for Windows v2 Hardware. Launch of New Kinect for Windows Approaches

Tuesday, March 25, 2014

1:57 pm | Facebook to Acquire Virtual Reality Pioneer, Oculus VR. Facebook Considers Virtual Reality as Next-Gen Social Platform

1:35 pm | Intel Acquires Maker of Wearable Computing Devices. Basis Science Becomes Fully-Owned Subsidiary of Intel

Monday, March 24, 2014

10:53 pm | Global UHD TV Shipments Total 1.6 Million Units in 2013 – Analysts. China Ahead of the Whole World with 4K TV Adoption

10:40 pm | Crytek to Adopt AMD Mantle Mantle API for CryEngine. Leading Game Developer Adopts AMD Mantle

9:08 pm | Microsoft Unleashes DirectX 12: One API for PCs, Mobile Gadgets and Xbox One. Microsoft Promises Increased Performance, New Features with DirectX 12

3:33 pm | PowerVR Wizard: Imagination Reveals World’s First Ray-Tracing GPU IP for Mobile Devices. Imagination Technologies Brings Ray-Tracing, Hybrid Rendering Modes to Smartphones and Tablets

2:00 pm | Nokia Now Expects to Close Deal with Microsoft in Q2. Sale of Nokia’s Division to Close Next Month