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Microsoft To Acquire Nokia’s Device and Service Business

Huge news is coming from Microsoft and Nokia late Monday night. Microsoft has acquired Nokia’s device and service business in a deal worth 7.2$ billion. Now to break down the deal Microsoft will spend 5 billion for the device section and another 2.2 billion for┬átheir licences and services.

“Today’s agreement will accelerate the momentum of Nokia’s devices and services, bringing the world’s most innovative smartphones to more people, while continuing to connect the next billion people with Nokia’s mobile phone portfolio,” Microsoft CEO Steve Ballmer and Elop said in a joint statement.

According to the companies, 32,000 people will transfer across Microsoft, including 4,700 people in Finland and 18,300 employees directly involved in product manufacture.  This is a huge move for the Microsoft CEO, Ballmar, who will be leaving the company in only 12 months. Nokia is one of the few companies that has been building Windows phones, and has invest millions in getting developers to develop apps for Windows.