Microsoft Buys Nokia’s Smartphone Business for $7.2 Billion
Now has access to all of Nokia’s patents and technologies.
Microsoft has spent $7.2 billion to acquire Nokia’s smartphone business, which includes an acquisition of Devices and Services and the ability to license Nokia’s patents and mapping technology. According to Games Industry International, €3.79 billion has been doled out for “substantially all” with €1.65 billion allotted to licenses, both playable by Q1 2014.
In an internal memo to employees, Microsoft CEO Steve Ballmer stated that the deal allowed for Microsoft to accesss “incredible talent, technology and IP.” “Clearly, greater success with phones will strengthen the overall opportunity for us and our partners to deliver on our strategy to create a family of devices and services for individuals and businesses that empower people around the globe at home, at work and on the go, for the activities they value most.”
Nokia CEO Stephen Elop, who previous worked for Microsoft, will be head of the division. Meanwhile 32,000 Nokia employees will officially be a part of Microsoft. A substantial step forward for Microsoft or a rather odd choice? Stay tuned for more.