News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
GET RECOGNIZED
Let an ISACA® certification elevate your career.
Register today and save
You are here: Home / Mobile Tech / EU Approves Microsoft Deal for Nokia
Gartner's #1 for endpoint backup
EU Regulators Approve Microsoft Deal for Nokia
EU Regulators Approve Microsoft Deal for Nokia
By Seth Fitzgerald / NewsFactor Network Like this on Facebook Tweet this Link thison Linkedin Link this on Google Plus
PUBLISHED:
DECEMBER
05
2013



Regulators within the European Union have given the green light to Microsoft's $7.4 billion buyout of Nokia. This move had been expected since the European Commission generally does not oppose moves such as this one, but now that regulators have officially accepted the acquisition, Microsoft can move forward with the massive deal.

Prior to today's approval, regulators in the United States had signed off on the buyout alongside Nokia's shareholders. Microsoft has been eying Nokia's hardware business for more than a year, especially as Nokia's line of Lumia smartphones make up the majority of Windows Phone devices.

A Significant Deal

It's not often that a company pays $7.4 billion in an acquisition, however Microsoft and Nokia are by no means small companies. This move is somewhat defensive for Microsoft mainly because Nokia's control over the Windows Phone market was making it harder for Microsoft to do much with the platform. Now that the companies can work together, Windows Phone may be able to compete against Android and iOS.

The EU's antitrust authority, the European Commission, gave its final approval after deciding that the deal would not hurt competition. As Nokia and Microsoft are already so close, the deal will only make things official.

According to the commission, there are only "moderate" overlaps between Microsoft and Nokia and while that is true as a whole, Microsoft's smartphone sector is already dominated by Nokia. As there are more than enough phone manufacturers, particularly Samsung and Apple, the regulators did not picture Microsoft becoming too strong in any of its markets as a result of the deal.

Even with multiple competitors, the deal is still one of the largest in the technology industry. At most, companies pay around $1 billion during an acquisition, making the $7.4 billion price tag impressive, which is the same reason Nokia's shareholders saw little downside to the acquisition.

Greater Connection

The buyout will result in Microsoft and Nokia working nearly as closely as possible, however there may end up being an even greater connection between the two companies. Nokia's former CEO Stephen Elop is still in the running for the position of Microsoft's CEO now that Steve Ballmer, its current chief executive, is leaving.

Nokia will likely play a major role in Microsoft's coming products, which would make Elop even more useful as CEO since he has significant experience working with people at Nokia. As of right now, Microsoft has reportedly been able to get its candidate list down to just four people, of which Elop is one.

Tell Us What You Think
Comment:

Name:

Like Us on FacebookFollow Us on Twitter
TOP STORIES NOW
MAY BE OF INTEREST
Protect 100% of your Data The prevalence of laptops and mobile devices in the enterprise makes corporate data increasingly vulnerable to loss and breach. And yet, workforce productivity is now inextricably linked to mobility. Click here to access the white paper "Top 10 Endpoint Backup Mistakes" to learn more about how to confidently protect data across platforms and devices while also providing features designed to enhance the end user experience.
MORE IN MOBILE TECH
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Russian Gang with Stolen IDs Hacks Hosting Company
In August, a Russian cyber gang obtained what researchers called “the largest cache of stolen data." Now, those hackers may be putting their ill-gotten gains to criminal use.
 
Dairy Queen Latest Retailer To Report Hack
Known for its hot fries and soft-serve ice cream, Dairy Queen just made cyber history as the latest victim of a hack attack. The fast food chain said that customer data at some stores may be at risk.
 
Lessons from the JPMorgan Chase Cyberattack
JPMorgan Chase is investigating a likely cyberattack. The banking giant is cooperating with law enforcement, including the FBI, to understand what data hackers may have obtained.
 

Enterprise Hardware Spotlight
AMD's New FX Series CPU Breaks Processing Speed Record
The new FX-8370 processor from Advanced Micro Devices has set a record for silicon processor speed, the company announced. Overclocked, the eight-core chip was measured at 8722.78 MHz.
 
Intel Intros Lightning-Fast PC Processors
Call it extreme. Intel just took the covers off its first-ever eight-core desktop processor, which is aimed at hardcore power users who expect more than the status quo from their computers.
 
HP Previews ProLiant Gen9 Data Center Servers
Because traditional data center and server architectures are “constraints” on businesses, HP is releasing new servers aimed at faster, simpler and more cost-effective delivery of computing services.
 

Mobile Technology Spotlight
Rumor Mill Puts Mobile Wallet in iPhone 6
Apple is moving toward the mobile wallet world with its next iPhone. The tech giant has partnered with retailers, banks and major payment networks to make it happen, according to Bloomberg.
 
Will iPhone Finally Catch Up with NFC Mobile Payment Ability?
Apple's latest version of the iPhone may have a mobile wallet to pay for purchases with a tap of the phone. The iPhone 6 reportedly is equipped with near-field communication (NFC) technology.
 
Visual Search To Shop: Gimmick or Game Changing?
Imagine using your phone to snap a photo of the cool pair of sunglasses your friend is wearing and instantly receiving a slew of information about the shades along with a link to order them.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | CRM Systems | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech | Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.