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Official: Microsoft To Acquire Nokia Devices and Services Business

Posted by ryuzaki0 on from the totally-didn't-see-that-one-coming dept.

Many submitted, and symbolset emailed me to wake up, sending this bit of interesting news out of Redmond: "Microsoft Corporation and Nokia Corporation today announced that the Boards of Directors for both companies have decided to enter into a transaction whereby Microsoft will purchase substantially all of Nokia's Devices & Services business, license Nokia's patents, and license and use Nokia's mapping services. Under the terms of the agreement, Microsoft will pay EUR 3.79 billion to purchase substantially all of Nokia's Devices & Services business, and EUR 1.65 billion to license Nokia's patents, for a total transaction price of EUR 5.44 billion in cash. Microsoft will draw upon its overseas cash resources to fund the transaction. The transaction is expected to close in the first quarter of 2014, subject to approval by Nokia's shareholders, regulatory approvals and other closing conditions." And, yep, Elop is part of the deal (quoting Ballmer): "Stephen Elop will be coming back to Microsoft, and he will lead an expanded Devices team, which includes all of our current Devices and Studios work and most of the teams coming over from Nokia, reporting to me."

6 of 535 comments (clear)

  1. Times of India has the MS Email by symbolset · · Score: 5, Informative

    Microsoft CEO's email to staff on Nokia acquisition

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  2. Re:Hmm... by lister+king+of+smeg · · Score: 5, Informative

    So Elop left Microsoft to head up Nokia, where he made supposedly very idiotic changes that had the effect of destroying Nokia's share price. Microsoft then buys Nokia at a fraction of the cost it would otherwise have been, and Elop returns to a prestigious role at Microsoft, where he's in with a shot at the CEO role.

    That doesn't look the slightest bit dodgy at all.

    EMBRACE EXTEND EXTINGUISH.

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  3. We saw it coming by ecloud · · Score: 5, Informative

    I worked at Nokia from 2011-2012. Everyone was saying then that the reason for Elop (who was otherwise so useless) was to devalue Nokia enough that it would be a good deal for Microsoft. And here we are... the other shoe drops. But there will be a third shoe when he becomes CEO of Microsoft. They deserve each other.

  4. Glad they Sold Off Qt First by GumphMaster · · Score: 5, Informative

    I am certainly glad they sold off Qt first. If Microsoft got their hands on it the writing would be on the wall even in the face of pledges to KDE.

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  5. Re:Textbook case by voinageo · · Score: 5, Informative

    This should be a high profile case for investigation by the EU commissioner for industry. In the end Nokia was a EU company which was the victim of a hostile takeover from a US company. We should al send a formal complaint to this guy http://ec.europa.eu/commission_2010-2014/tajani/contact/commissioner/index_en.htm

  6. Re:Beware of Microsofties bearing gifts by kirkb · · Score: 5, Informative

    Read a little Tomi: http://communities-dominate.blogs.com/

    NOK was not even close to dead/dying when Elop was brought in. His 'burning platform' memo killed it.

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