Microsoft is Acquiring NOKIA’s Devices and Services

Microsoft to acquire Nokia’s …

Introduction:

As you all know that MICROSOFT CORPORATION is the market leader in Software, Services and solutions and NOKIA CORPORATION was once the leader in mobile market all over the world.
Now once again NOKIA has come up with LUMIA streamlined series of mobile phones in the battle of mobile phones with the help of Windows OS.

Today Microsoft Corporation and Nokia Corporation announced that the Boards of Directors for both companies have decided to enter into a transaction whereby Microsoft will purchase substantially all of Nokia’s Devices & Services business, license Nokia’s patents, and license and use Nokia’s mapping services.

Under the terms of the agreement, Microsoft will pay EUR 3.79 billion to purchase substantially all of Nokia’s Devices & Services business, and EUR 1.65 billion to license Nokia’s patents, for a total transaction price of EUR 5.44 billion in cash. Microsoft will draw upon its overseas cash resources to fund the transaction. The transaction is expected to close in the first quarter of 2014, subject to approval by Nokia’s shareholders, regulatory approvals and other closing conditions.

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