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Breaking News: Microsoft buys Nokia's Devices and Services division

Microsoft will buy Nokia's Devices and Services business and patents for $7.2 billion (NASDAQ:MSFT, NYSE:NOK)

| Business, Financial & Legal News | Posted: Sep 3, 2013 3:42 am

In an unexpected turn of events, Microsoft has announced its intentions to purchase Nokia's Devices and Services divisions for a reported $5 billion dollars. Additionally, the Redmond computing pioneer will also license all related patents from the Finnish telecom giant for an additional $2.2 billion.

 

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The transaction is expected to be under review until 2014 and is expected to finalize sometime during the first quarter. Nokia Executives expected to transfer to Microsoft in the deal include Stephen Elop, Jo Harlow, Juha Putkiranta, Timo Toikkanen, and Chris Weber. Stay tuned to TweakTown for full coverage of the acquisition as news begins flowing in.

NEWS SOURCES:Thenextweb.com

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