Microsoft officially acquires Nokia
Microsoft today has agreed a deal to acquire Nokia services and devices unit. Microsoft will pay €1.65 billion Nokia’s patents and €3.79 billion for Nokia’s devices and surfaces business.
“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,” quoted Steve Ballmer, Microsoft’s chief executive officer.
Nokia’s CEO Stephen Elop will now head the Devices division while Risto Siilasmaa will be placed as Nokia’s interim CEO. Microsoft will now take over the full development and production of all Nokia phones, accessories and other devices. Services like Nokia Map and Ovi store will now belong to Microsoft as well.
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