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Microsoft buys Nokia’s mobile business
Microsoft announced the purchase of Nokia mobile business . For the subdivision Nokia Devices & Services together with patents the software giant will pay 5.44 billion euros, or $ 7.2 billion. Payment transactions will be made by funds placed in foreign accounts.
According to the news agency Reuters, the current head of Nokia Stephen Elop, who previously held the position of senior manager at Microsoft, will return to the company as the successor to Steve Ballmer, who will be dismissed during the year as a result of the reorganization of Microsoft.
Closing of the transaction is expected in the first quarter of 2014.
Microsoft and Nokia have been partners since February 2011. Building on the success of smartphones series Lumia, Microsoft plans to increase its market share in mobile devices. Plan to achieve this through rapid innovation, enhance collaboration, and the use of a common branding and marketing, said in a press release from Microsoft.
The deal will allow Nokia to strengthen its financial position and provide a sound basis for investment in the rest of the business.
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Tags: Microsoft , Nokia .
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