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Microsoft acquires Nokia's telephone business

NEWS_PUBLISH_DATE 03 September 2013
Microsoft acquires Nokia's telephone business image

Software giant Microsoft is acquiring the core business of mobile phone maker Nokia. The deal is worth a total of $ 7.2 billion (5.4 trillion euros), the company announced on Tuesday morning.

This has reinforced some rumors that a replacement has already been found for outgoing Microsoft boss Steve Ballmer. Nokia CEO Stephen Elop, a former Microsoft manager, has already been linked to Ballmer's successor.

Microsoft will pay 3.79 billion euros for the device and services business, and will provide an additional 1.65 billion euros for patent licenses, the statement said.

In addition, Microsoft will rely on Nokia's mapping services.

The deal is due to be completed in early 2014. About 32,000 employees are due to move to Microsoft. Approval from shareholders and competition authorities has not yet come.

The deal will halve Nokia's turnover. In the future, the Finnish company will focus mainly on the network business and the development of its card services under the Here brand.

The group recently acquired NSN, a network equipment company originally developed with Siemens.