April 22, 2014 - 12:05 AMT
PanARMENIAN.Net - Microsoft has announced that its takeover of Nokia's Devices and Services division will be completed on April 25, according to Digital Spy.
Last September it was revealed that the PC maker had paid $7.73bn for "substantially all" of the Nordic company's phone business and patents. The process hit several delays into 2014, as the acquisition sought regulatory approval from 15 market areas.
"The completion of this acquisition follows several months of planning and will mark a key step on the journey towards," Microsoft's general counsel and executive vice president of legal & corporate affairs Brad Smith said in a statement.
"This acquisition will help Microsoft accelerate innovation and market adoption for Windows Phones."
However, Smith added that the original agreement has been amended slightly, resulting in Microsoft not taking on a manufacturing facility in Korea.
Instead the company will gain 21 extra Nokia employees than first arranged, as well as Nokia.com and social media sites "for the benefit of both companies and our customers for up to a year".
Former Nokia CEO Stephen Elop will head up the new Microsoft-run division once the acquisition has been finalised on Friday.