Home > Microsoft > Microsoft Acquires Nokia’s Devices & Services Business

Microsoft Acquires Nokia’s Devices & Services Business

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Press release issued from Microsoft, September 3rd 2013:

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.

Building on the partnership with Nokia announced in February 2011 and the increasing success of Nokia’s Lumia smartphones, Microsoft aims to accelerate the growth of its share and profit in mobile devices through faster innovation, increased synergies, and unified branding and marketing. For Nokia, this transaction is expected to be significantly accretive to earnings, strengthen its financial position, and provide a solid basis for future investment in its continuing businesses.

(2013, http://www.microsoft.com/en-us/news/press/2013/Sep13/09-02AnnouncementPR.aspx)

Nokia have made great progress with their Nokia Lumia Smartphones. So it will be interesting to see what the future holds under this acquisition.

Nokia
Nokia Lumia 1020

Greg Olsen
YellowDuckGuy

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Categories: Microsoft
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