Microsoft has bought Nokia Corporation’s Devices & Services business with EUR 5.44 billion. Building on the partnership with Nokia and the increasing success of Nokia’s Lumia smartphones, Microsoft aims to accelerate the growth of its share and profit in mobile devices through faster innovation, increased synergies, and unified branding and marketing. For Nokia, this transaction is expected to be significantly accretive to earnings, strengthen its financial position, and provide a solid basis for future investment in its continuing businesses.
Aqcuisition includes all of Nokia’s Devices & Services business, including the Mobile Phones and Smart Devices business units as well as an industry-leading design team, operations including all Nokia Devices & Services production facilities, Devices & Services-related sales and marketing activities, and related support functions. Approximately 32,000 people are expected to transfer to Microsoft, including 4,700 people in Finland.
Nokia plans to focus on its three established businesses: NSN, HERE and Advanced Technologies. NSN is a leader in network infrastructure and services;,HERE in mapping and location services and Advanced Technologies in technology development and licensing. This transaction is expected to strengthen Nokia’s financial position and provide a solid basis for future investment in these three businesses.
See more at www.microsoft.com and press.nokia.com.
