On Monday evening unexpectedly Microsoft announced that it has inked a deal with Nokia to acquire “substantially all of Nokia’s Devices & Services business, license Nokia’s patents, and license and use Nokia’s mapping services.”
The total price of the deal is $7.17 billion in U.S. dollars (EUR 5.44 billion in cash). In that EUR 3.79 billion for The Devices and Services business acquisition accounts and patent licensing deal making up the remaining EUR 1.65 billion.
As part of the deal, Nokia’s CEO Stephen Elop will fill a new role at Microsoft as “Nokia Executive Vice President of Devices & Services.” Being that Stephen Elop has emerged as a Leading rumored contender at the helm of Microsoft, this could be a strong signal about the future of Microsoft’s executive leadership.
“It’s a bold step into the future – a win-win for employees, shareholders and consumers of both companies. Bringing these great teams together will accelerate Microsoft’s share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services. In addition to their innovation and strength in phones at all price points, Nokia brings proven capability and talent in critical areas such as hardware design and engineering, supply chain and manufacturing management, and hardware sales, marketing and distribution" said Microsoft CEO Steve Ballmer in a press release announcingthe news.
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