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Nokia to sell mobile phone business to Microsoft

2013-09-03 08:24:00| Telecompaper Headlines

(Telecompaper) Microsoft has agreed to acquire the mobile phone business of Nokia for EUR 3.79 billion. In addition it will pay EUR 1.65 billion to license Nokia's patents, bringing the total value of the deal to EUR 5.44 billion in cash. The takeover follows Nokia's decision in early 2011 to adopt Microsoft's Windows software for its smartphones. Microsoft said the takeover will allow it to accelerate the growth in Windows and expand its share of the mobile phone market, through faster innovation, increased synergies, and unified branding and marketing. Pending approval by Nokia's shareholders and regulators, the deal is expected to close in the first quarter of 2014. MIcrosoft will finance the takeover from its existing cash. The acquisition includes all of Nokia's Devices and Services business, including around 32,000 employees and the Lumia and Asha brands. The operations generate around EUR 14.9 billion in revenues, or almost 50 percent of Nokia's sales for 2012. Nokia will retain ownership of the Nokia name and license it to Microsoft. Nokia also holds on to its patent portfolio, to which Microsoft receives a 10-year non-exclusive licence. Nokia CEO Stephen Elop will move back to Microsoft and become head of the company's devices business, including mobile phones, the Xbox and the Surface tablet.

Tags: business phone mobile sell

 

Microsoft to acquire Nokia's mobile business

2013-09-03 07:54:49| InfoWorld: Top News

Microsoft will acquire Nokia's Devices & Services business, which includes the smartphone and mobile phones businesses, for 3.79 billion ($5 billion), Microsoft said today. The Redmond, Wash., software company will also pay 1.65 billion ($7.2 billion) to license Nokia's patents, for a total transaction cost of 5.44 billion in cash.

Tags: business mobile microsoft acquire

 
 

Microsoft Buying Nokia's Devices And Services Unit

2013-09-03 07:17:29| Telecom - Topix.net

Microsoft Corp. is buying Nokia Corp.'s devices and services business, and getting access to the company's patents, for a total of $7.2 billion in an effort to expand its share of the smartphone market, the companies announced late Monday.

Tags: services unit microsoft buying

 

Microsoft buying Nokia's devices and services unit

2013-09-03 07:01:27| Wireless - Topix.net

File-This Feb. 11, 2011 file photo shows Stephen Elop CEO of Nokia, left, with CEO of Microsoft Steve Ballmer, speaking in London, as he announces the strategic partnership with Microsoft.

Tags: services unit microsoft buying

 

Microsoft to buy Nokia's devices, services unit for $7.2B

2013-09-03 07:01:26| Wireless - Topix.net

Microsoft says the deal will buy Nokia's devices and services unit - leaving the Finnish phone maker to networking, mapping, location, and other technologies.

Tags: services buy unit microsoft

 

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