Microsoft boosts mobile presence with acquisition of Nokia’s cell phone business
The deal includes €1.65 billion’s worth in patent licenses from Nokia, reports the Wall Street Journal. It is expected to boost Microsoft’s presence in the fast-growing mobile market currently dominated by Samsung Electronics and Apple.
As part of the deal for Nokia’s devices-and-services business, Microsoft will bring aboard 32,000 Nokia employees including CEO Stephen Elop, who is believed to be among the contenders for Mr. Ballmer’s job, Microsoft’s current CEO.
Nokia has been a long-time partner for Microsoft in the smartphone sector. The deal with Nokia is an apparent acknowledgment that Microsoft needs a stronger hand to play in the mobile-phone business, analyses the Wall Street Journal. For Nokia, the onetime leader of the mobile-phone business, the deal reflects the harsh fact that the company could not take on its rivals without external support. The workers being added from Nokia will pad Microsoft’s employee count by about one-third.
Microsoft and Nokia said the transaction is expected to close in the first three months of 2014, subject to approval by Nokia shareholders and other conditions.
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