Yesterday, September 3, 2013 Nokia Corporation affirmed and entered into a transaction whereby Microsoft will significantly acquire all of Nokia’s Devices & Services business, license Nokia’s patents and use Nokia’s mapping services.
Microsoft Corporation will purchase Nokia’s mobile business and license its patents for 5.44 billion euros ($7.2 billion). A bold venture and expansion for Microsoft that will bring accelerated growth of high end mobile devices through faster innovation.
Microsoft’s CEO Steve Ballmer wrote in a note to employees – “This is a smart acquisition for Microsoft, and a good deal for both companies” “We are receiving incredible talent, technology and IP. We’ve all seen the amazing work that Nokia and Microsoft have done together. Given our long partnership with Nokia and the many key Nokia leaders that are joining Microsoft, we expect a smooth transition and great execution.”
Moreover, Ballmer said that “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,” “In addition to their innovation and strength in phones at all price points, Nokia brings proven capability and talent in critical areas such as hardware design and engineering, supply chain and manufacturing management, and hardware sales, marketing and distribution.”
Source: microsoft.com
