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Posted by on Sep 3, 2013 in handheld and phones, microsoft, Nokia, tech news | 0 comments

Microsoft To Acquire Nokia For $7.18 Billion

Microsoft To Acquire Nokia For $7.18 Billion

In this deal, Microsoft will buy nearly all of Nokia’s Devices and Services Unit Business including Nokia cell business for €3.79 billion/$5 Billion.  Microsoft will also pay €1.65 billion/$2.18 Billion to license Nokia’s patents.  The total would bring the deal to  €5.44 Billion or $7.18 Billion or $7.18 billion.  The deal is expected to close in the first quarter of 2014 with shareholder and regulatory approval.

Nokia’s CEO Stephen Elop is a former Microsoft employee. Elop was head of Microsoft Business Division, he was responsible for Microsoft Office and Microsoft Dynamics. Stephan Elop will join Microsoft after the transaction is finalized.