microsoft corp (MSFT) Key Developments
Microsoft Portugal Invests in Portugal Support Centre
Dec 10 13
Microsoft announced that it will set up an international support centre in Portugal, which involves hiring 25 people for a total investment of EUR 2 million. The centre, specializing in cloud technologies, will be housed in the company headquarters at Nations Park in Lisbon. The recruitment of new technical staff is already underway and should be completed by the end of January 2014. At the same time, Microsoft said it will end the process of integration of all telephone support staff for business customers and partners in the same organization, putting the number of Portuguese technicians at 110.
Nokia Seeks To Sell Chennai Manufacturing Unit
Dec 9 13
Nokia Corporation (HLSE:NOK1V) may look for another buyer if its Chennai manufacturing unit cannot be sold to Microsoft Corporation (NasdaqGS:MSFT) due to tax issue. Chennai manufacturing unit, may be segregated if the tax row is not settled before December 12, 2013 and Nokia may then look at providing contract manufacturing services to the US-based company for about a year, a senior Nokia official said. "We will do our best to get this deal done. But, we also agreed with Microsoft that if the assets are not transferred to them then we will for concessional period offer contract manufacturing services out of the factory assets and by doing so we will try to secure employment for as many employees possible. Given that Nokia will not need these assets for its own future operations, we will need to seek to try to find another buyer for this asset here. We have committed that cash amount will be a minimum of INR 22.5 billion and if you look at this from a numbers point of view, the case and the claim, is for approximately INR 20.8 billion. We have already today agreed to deposit INR 7 billion to be able to take this claim and go through court proceedings over the next few years, taking the total amount to almost INR 30 billion. This is higher than the original tax claim,” he added.
Microsoft Corp. Announces the Pricing of its Offerings of EUR 3.5 Billion of Senior Unsecured Notes and $3.25 Billion of Senior Unsecured Notes
Dec 4 13
Microsoft Corp. announced the pricing of its offerings of EUR 3.5 billion of senior unsecured notes and $3.25 billion of senior unsecured notes. The notes consist of the following tranches: EUR 1.75 billion of 2.125% notes due Dec. 6, 2021; EUR 1.75 billion of 3.125% notes due Dec. 6, 2028; $1.25 billion of 1.625% notes due Dec. 6, 2018; $1.50 billion of 3.625% notes due Dec. 15, 2023; $500 million of 4.875% notes due Dec. 15, 2043. The company intends to use the net proceeds from the offerings for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of capital stock, acquisitions and repayment of existing debt. The offerings are expected to close on Dec. 6, 2013.
Microsoft to Invest EUR 170 Million in Dublin Hub
Dec 3 13
Microsoft announced it is to invest EUR 170 million in the expansion of its Europe Middle East and Africa data centre in Dublin creating 380 construction jobs and 20 new staff on top of the 80 people already based at the facility. Due for completion next Spring, the expansion brings the total level of investment at the company's Dublin facility to EUR 594 million and increases the data centre campus computing capacity by 169,000 sq ft to 584,000 sq ft. The data centre was officially opened in 2009, with the first expansion announced in February 2012.
Microsoft Seeks Acquisitions
Dec 3 13
Microsoft Corporation (NasdaqGS:MSFT) is seeking acquisitions. Microsoft intends to use net proceeds from sale of securities for general corporate purposes, which may consist of working capital funding, capital expenditures, share repurchases, acquisitions and repayment of existing debt. The Rating Outlook is Stable.