Nokia today said it has officially taken the reigns of Alcatel-Lucent after its public exchange offer for Alcatel-Lucent was accepted by the French stock market authority.
Nokia expects to merge the two companies in order to form a telecommunications powerhouse to compete against Ericsson, ZTE, and others.
“We will move quickly to execute our integration plans,” said Rajeev Suri, President and CEO of Nokia. “Nokia and Alcatel-Lucent will offer a combined end-to-end portfolio of the scope and scale to meet the needs of our global customers. We will have unparalleled R&D and innovation capabilities, which we will use to lead the world in creating next-generation technology and services.”
Nokia already divested its handset business to Microsoft and its HERE mapping business to a consortium of automakers. The telecommunications business is now Nokia’s core focus.
