Microsoft to Take Control of Nokia’s Finland HQ

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Published November 21, 2013

| FOXBusiness

A slimmed-down Nokia (NOK) will relinquish the leasing rights of its Finnish headquarters to Microsoft (MSFT) after their device deal closes next year.

The decision diverges from Nokia’s initial plan from September where it said it would retain the giant glass-paneled headquarters in Espoo, Finland -- just outside of Helsinki -- that overlooks the Baltic Sea.

The remaining Nokia will move just a few minutes away to a newly-renovated campus in Karaportti where its current network-equipment business is based.

A majority of Nokia’s workers in the Espoo office are among those set to be transferred to Microsoft. Roughly 32,000 people are expected to transfer in total – 57% of Nokia’s workforce.

"Because the majority of people working at Nokia House are Nokia Devices & Services employees, Microsoft will assume ownership and management of the facility upon the expected closure of the deal," a Microsoft spokesperson confirmed. 

Nokia shareholders on Tuesday voted to approve the sale of its devices and services business, which includes its popular Lumia smartphone, for roughly $7.3 billion. The deal, expected to close in the first quarter, leaves the Finnish phone maker with licensing rights to a treasure trove of patents.

Microsoft has said that it plans to turn Finland into a research and development center for its growing smartphone business.

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http://www.foxbusiness.com/technology/2013/11/21/microsoft-to-take-control-nokias-finland-hq/