Microsoft to Buy Nokia's Devices & Services Business, Nokia's Patents and Mapping Services for EUR 5.44 billion
Microsoft to Acquire Nokia's Device Business Microsoft Nokia Deal Worth EUR 5.44 billion According to the Press Release published by Nokia and Microsoft Corporation, Boards of Directors of both Microsoft Corporation and Nokia Corporation have decided to enter into a transaction to sell Nokia's Devices & Services business, license Nokia's patents, and license and use Nokia's mapping services. The decision to buy Nokia is one of the biggest deal and is taken with the planned retirement announcement of Microsoft Chief Executive Steve Ballmer. Microsoft will buy Nokia’s devices and services business for €3.79 billion ($5 billion). They will also pay €1.65 billion ($2.2 billion) for Nokia’s patents. The whole deal will cost €5.44 billion or $7.18 billion and it will be paid out in cash. Microsoft and Nokia announced that the transaction is expected to close in the first quarter of 2014, subject to approval by Nokia’s shareholders, regulatory approvals and o