Dallas, Texas 12/04/2013 (Financialstrend) – Microsoft Corporation (NASDAQ:MSFT)’s Nokia acquisition has received approval from the United States Department of Justice. This transaction had received approval on 28th November. Last month, the company’s shareholders approved this deal during the meeting that was held at the Helsinki headquarters. Microsoft Corporation (NASDAQ:MSFT) has publicly announced their intention of acquiring purchasing Nokia’s services and devices unit for $7.2B.
Before that, it had been reported that Microsoft wanted to buy Nokia. Steve Ballmer, the Microsoft Corporation (NASDAQ:MSFT) stated at the press release that this acquisition is a bold step for the company, into the future. It is a win-win situation for the company’s shareholders, employees, consumers as well as the companies themselves.
He said that bringing these two great teams together will go a long way in boosting Microsoft Corporation (NASDAQ:MSFT)’s profitability and share in phones. He said that it will also add power to the overall opportunities for the company and its partners across its entire family of devices & services. He said that apart from the very obvious innovation quotient and strength in phones that Nokia has, it also brings proven talent and capability in critical areas like engineering, hardware design, manufacturing management, supply chain and hardware marketing, sales and distribution.
Zack Whitaker of ZDNet had said almost a month ago that the authorities in India had already given their approval for the deal and that one regulatory-hurdle has been taken care of. As per the Indian media, authorities in the country said that in most probability this deal will not have a negative impact on competition. Microsoft Corporation (NASDAQ:MSFT)’s acquisition of Nokia will see the software company turn into a full-fledged phone maker so many years post the launch of its Windows Mobile-platform into the Windows Phone.”
In Tuesday’s trading session, Microsoft Corporation (NASDAQ:MSFT) dipped by 0.36% to close at $38.31. The company has a market capitalization of $319.81 billion.