The Firm is representing Microsoft Corporation in the announced sale of Microsoft’s entry-level feature phone assets to FIH Mobile Limited (“FIH”), a subsidiary of Hon Hai/Foxconn Technology Group, and HMD Global Oy (“HMD”) for total consideration of $350 million. As a part of the transaction, Microsoft will transfer substantially all of its feature phone assets, including brands, software and services, its care network, certain employees and other assets, customer contracts and critical supply agreements to FIH and HMD. FIH will also acquire Microsoft Mobile Vietnam, Microsoft’s manufacturing facility in Hanoi, Vietnam. The transaction is expected to close in the second half of 2016, subject to regulatory approvals and other closing conditions. The Firm represented Microsoft in its acquisition of the feature phone business as part of its purchase of Nokia Corporation’s Devices & Services Business in 2014.
The Simpson Thacher team included Anthony Vernace, William Allen, Matt Gabbard, Kirsten Harmon and Evan Zinaman (M&A); Venus Lo and Tao Li (Capital Markets – Hong Kong); Jonathan Goldstein and William Smolinski (Tax); Lori Lesser, Marcela Robledo and Michael Chao (IP); Greg Grogan, Jamin Koslowe and Samantha Steinfeld (ECEB); and Adeeb Fadil and Noreen Lavan (Environmental).