Microsoft Makes Surprise $7.2 Billion Deal for Most of Nokia

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Microsoft has announced that it plans to acquire Nokia‘s devices and services business, as well as license its patents and mapping services in a $ 7.2 billion deal

The transaction, expected to close in the first quarter of 2014 pending approval from Nokia’s shareholders, will be paid in cash. The Redmond, Wash. software giant will pay $ 5 billion to buy the devices and services division and $ 2.2 billion to license the patents

In a release, Microsoft said it aims to increase its share and profits in the mobile-device market “through faster innovation, increased synergies and unified branding and marketing.” For its part, Nokia said the deal strengthens the company financially, and gives it an opportunity for reinvention. Read more…

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