Microsoft has completed its acquisition of the Nokia Devices and Services business following approved by Nokia shareholders and by governmental regulatory agencies around the world.
According to Redmond, the completion of the acquisition marks the first step in bringing these two organisations together as one team.
“We welcome the Nokia Devices and Services business to our family," says Satya Nadella, CEO, Microsoft. "The mobile capabilities and assets they bring will advance our transformation.
"Together with our partners, we remain focused on delivering innovation more rapidly in our mobile-first, cloud-first world.”
Reporting to Nadella is former Nokia President and CEO Stephen Elop, who will serve as executive vice president of the Microsoft Devices Group, overseeing an expanded devices business that includes Lumia smartphones and tablets, Nokia mobile phones, Xbox hardware, Surface, Perceptive Pixel (PPI) products and accessories.
According to Nadella, Microsoft welcomes personnel with "deep industry experience" in more than 130 sites across 50 countries worldwide, including several factories that design, develop, manufacture, market and sell a portfolio of smart devices, mobile phones and services.
As part of the transaction, Microsoft will also honour all existing Nokia customer warranties for existing devices.
With the Nokia mobile phone business, Microsoft will now target the affordable mobile devices market, cited as a US$50 billion annual opportunity, delivering the first mobile experience to the next billion people while introducing Microsoft services to new customers around the world.
According to Nadella, the tech giant will continue to deliver new value and opportunity, and it will work closely with a range of hardware partners, developers, operators, distributors and retailers, providing platforms, tools, applications and services that enable them to make exceptional devices.
"With a deeper understanding of hardware and software working as one, the company will strengthen and grow demand for Windows devices overall," said an official company statement, echoing the words of Nadella.