Entries with tag corporate acquisitions.

Nokia Shareholders Approve Sale of Mobile Unit to Microsoft

Nokia Oyj shareholders voted overwhelmingly in favor of selling the company’s mobile-phone unit to be sold to Microsoft. The €5.44 billion (about $7.4 billion) deal—slated for completion in early 2014—will let Nokia focus on its network-related product offerings. It once had more than 50 percent of the mobile-phone market. However, despite recent increased smartphone sales, its device sales now significantly lag behind those of Samsung Electronics and Apple. Nokia CEO Stephen Elop, a former Microsoft executive who will return to the company under the terms of the deal, will reportedly earn more than $25 million from the sale. Elop is considered a leading contender to replace retiring Microsoft CEO Steven Ballmer. (SlashDot)(Neowin)(Bloomberg)
 

Google Acquiring Waze in Billion-Dollar Deal


Google has announced it is acquiring mapping-application developer Waze for about $1.1 billion. The deal’s precise terms have not been released, which is why reports on the price tag differ, ranging as high as $1.3 billion. Analysts say the acquisition should help Google support its Google Maps service. Waze offers a mobile application that is continually improved by crowdsourced information and user tracking, such as traffic and road-hazard details. Waze, an Israel-based startup founded in 2008, has reportedly been in negotiations with various firms—including Apple and Facebook—for the past year. (Businessweek)(The Telegraph)(The Wall Street Journal)

Dish Ups Ante in Clearwire Bid

Dish Network raised its offer for Clearwire in a battle to acquire the wireless carrier against Sprint Nextel. Dish Network is offering $4.40/share; Sprint has offered $3.40/share. The new offer also prompted a delay in a shareholder vote on the offer from Sprint Nextel that was to have transpired Friday. Sprint owns 50 percent of Clearwire and is offering to purchase those shares it does not own. At the same time, Sprint is being courted by SoftBank, a Japanese firm that has clearance from the US feds to proceed with the deal. SoftBank is in a bidding war for the firm with Dish Network. (USA Today)(Reuters -- 1) (Reuters -- 2)
 

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