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Over 99% of Nokia Shareholders Approve Microsoft Acquisition

This shouldn’t come as all that much of a surprise. Following the announcement that Microsoft would buy Nokia for $7.2 billion, we have now received word that Nokia shareholders have indeed approved the deal and the acquisition will go through as planned. And it’s not like just a small majority of Nokia shareholders gave the thumbs up; a solid 99.7 percent of the shareholders voted in favor of the deal.

So, with Nokia falling under the Microsoft umbrella, what does this mean moving forward? First, former Nokia CEO Stephen Elop will return to Microsoft. He’s reportedly vying for the Microsoft CEO job left vacant by Steve Ballmer. The Nokia brand will stay with Nokia, but Microsoft will acquire the Lumia brand for Windows Phone devices.

The fit is a natural one. Microsoft budied up with Nokia back in 2011 when the latter decided it was going to go full steam with the Windows Phone platform. That partnership has yielded some fruit and Nokia quickly became the dominant Windows Phone producer, far outselling the offers from companies like Samsung in that category. It’s still a distant third, compared to iOS and Android, but it’s getting there.

About Michael Kwan

A freelance writer and tech geek from Vancouver. Find me at michaelkwan.com and follow me on Twitter @michaelkwan.

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