Its Final, Microsoft Is Acquiring Nokia’s Devices & Services Business

Microsoft and NokiaNokia acquisition rumours finally came true. Today Nokia disclosed Microsoft will be purchasing Nokia’s devices and service business along with the patents which Nokia have license for. The deal was supposedly made for whopping $4.99 billion for the businesses and $2.18 billion for the patent licenses.

Microsoft CEO Steve Balmer said,

“It’s a bold step into the future – a win-win for employees, shareholders and consumers of both companies. Bringing these great teams together will accelerate Microsoft’s share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services.”

Microsoft hopes to speed up the growth and get a better smartphone market share by acquiring the biggest Windows Phone manufacturer Nokia. The press release says 32,000 employees from Nokia will be transferring to Microsoft. Once the deal becomes final Nokia will be focusing on its mapping infrastructure and other advanced technology services. According to AllThingsD, the deal will be finalised by early 2014.

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Source: Engadget

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