Microsoft Buys Nokia

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Microsoft buys Nokia

There have been many rumors about this, and now they became real. Microsoft announced that they are going to buy the devices and services unit from Nokia for 5.44 billion Euros.

This is the end of Nokia as a phone manufacturer. Microsoft will buy devices and services from Nokia. Nokia will instead focus on three core technologies: its network infrastructure, NSN, HERE maps and location-based services and Advanced Technologies which means licensing and development. Microsoft will license Nokia’s patents and map services.

Stephen Elop will also step down as CEO of Nokia and instead lead Microsoft’s division for devices. Risto Siilasmaa, previously chairman of the company’s Board of Directors, will take over as Nokia’s Interim CEO.

The deal closes the first quarter 2014.