Nokia House to be Microsoft House?

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Nokia House is currently the head Office building of Nokia. This whopping structure is located outskirts of Helsinki overseeing a titanic waterside and has rich Scandinavian interior-designs. This mega structure is a three phased building with each phase inter connected and this structure was completed in 2001.

Espoo

The news is this mega structure will have its new occupants, who are obviously Microsoft to lodge in soon after the Microsoft-Nokia deal closes.

“As the majority of employees currently working at our corporate headquarters are focused on Devices & Services activities and support functions, Nokia House will become a Microsoft site once the deal closes,” Nokia told economic times on 21st Nov 2013.

Microsoft is also planning a $250 million data center in Finland at later point of time.

The employees staying with Nokia (Nokia management and support functions) will be migrated to Karaportti Campus.

The irony is, Nokia actually doesn’t own the Nokia House. Nokia had sold the building for € 170 Million to property company Exilion, another Finish Company to reduce costs as part of its new smartphone and mobile strategies.

Timo Ihamuotila, CFO of Nokia said,

“We had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this outcome. As we have said before, owning real estate is not part of Nokia’s core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis.”

It almost a year when he told this and we have news that Nokia house will soon become Microsoft house!  I am totally clueless on what’s going to happen next until I get the next story!

 

-Parasaran

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