Microsoft will acquire Nokia’s Devices and Services business for 5.44 billion Euros.
Microsoft has just announced that they are acquiring Nokia‘s Devices and Services divisions in a move that will see Microsoft in control of Nokia’s smart phone properties. This is not a complete takeover, as Nokia will still be its own entity with its own patent portfolio. However, Microsoft will be granted a “10-year license” to Nokia’s patents.
Microsoft will pay $3.79 billion euros on the Devices and Services business and $1.65 to license patents. 32,000 staff will move from Nokia to Microsoft, with Nokia CEO Stephen Elop moving to Microsoft as executive VP of Devices and Services.