The United States Department of Justice has given Microsoft the green light to continue with its acquisition of Nokia
In September of 2013, Microsoft announced plans to acquire Nokia for $7.2 billion; the deal was expected to be completed in the first quarter of 2014. However, things have happened faster than anticipated with Microsoft clearing one of the major regulatory hurdles and getting the approval from the United States Department of Justice.
The United States Department of Justice gave the go-ahead on the 29th of November and was announced to the Federal Trade Commission on the 2nd day of December 2013. In a vote last month, Nokia shareholders approved the deal. The last step to making the deal a reality lies in the hands of the the European Commission which is expected to approve the deal before the end of this week.
The Microsoft-Nokia deal includes the purchase of Nokia’s devices and services division which has a work force of nearly 33,000 employees worldwide, Nokia’s patent portfolio and the right to use Nokia name on Microsoft’s smartphones for several years. However, Nokia will continue to exist as a separate company in Finland, producing the HERE Maps which will also be licensed to Microsoft.