Tuesday, September 3, 2013

Microsoft Buys Nokia's Phone Business For $7.2 Billion

Microsoft announced this morning that it is buying Nokia Corporation's phone business, in a deal worth approximately $7.2 billion. According to the companies, Microsoft will purchase "substantially all" of Nokia's Devices & Services business, and will also license Nokia's patents and mapping services. As a part of the acquisition, Microsoft expects to transfer approximately 32,000 employees from Nokia to Microsoft. Microsoft said the move covers Nokia's Smart Devices business unit, including its Lumia brand and products.