The BBC reports that the deal between Nokia and Microsoft has been finalised. The deal sees Microsoft buy Nokia’s mobile handset business for $7.2 billion. As part of the deal Nokia will license its patents and mapping services to Microsoft. The deal will happen in early 2014 when 32,000 Nokia employees will jump ship to Microsoft. Nokia shares rose 45% after announcing the deal. The transaction is subject to approval by Nokia shareholders and regulators but is very likely to be approved.
Interestingly Nokia’s Stephen Elop will stop down as president and chief executive of the Nokia corporation and resign from the company’s board. He is expected to “transfer to Microsoft at the anticipated closing” of the deal. Many have speculated that Stephen Elop will become the new CEO of Microsoft and replace Steve Ballmer.With the mobile handset business gone Nokia says it will focus on three key businesses – network equipment manufacturing, mapping and location services, and the development and licensing of technology.
Image courtesy of NokiaGadgets.com
SOUNDS GREAT – Full stereo sound (12W peak power) gives your setup a booming audio…
Special Edition Yoshi design Ergonomic controller shape with Nintendo Switch button layout Detachable 10ft (3m)…
Fluid Motion: These flight rudder pedals are smooth and accurate that enable precise control over…
Heavy Equipment Bundle: Includes a steering wheel for heavy machinery, gas and brake pedals, and…
Low-profile Keys for an ergonomic gaming experience. With slimmer keycaps and shorter switches, enjoy natural…
Size & style: Ambidextrous lightweight mouse for gaming. Built for speed, control and comfort, with…