Microsoft Acquires Nokia Devices and Services

In what has been a very long time, Microsoft has finally
announced its acquisition of Nokia Devices after the deal
was initially announced in September 2013.
The acquisition of Finnish company is said to have cost
Microsoft a whooping $7.2 billion (€5.44 billion),
Microsoft will pay €3.79 billion for Nokia’s phone
manufacturing division and another €1.65 billion for its
patents.

This means that Microsoft now owns the devices and
services part of Nokia’s business. As a result of this Nokia
will now be known as Microsoft Mobile Oy (Oy is a
Finnish word that means Ltd. or Inc.) and the name
Nokia will exist only until December 31st 2015, also
Microsoft will also handle the Nokia.com domain so as to
ease transition.
Microsoft will take control of more than 90 percent of all
Windows Phones with Nokia Lumia’s lineup and phones
like Asha and even the new Nokia X series.
Former Nokia CEO Stephen Elop who will return to
Microsoft and will be in control of hardware projects
(projects like Lumia, Xbox, Surface) said in an open
letter;

“As Microsoft and Nokia Devices and Services come
together as an expanded family, we will unify our passion,
dedication and commitment to bringing you the best of
what our joint technologies have to offer.
Together, we can connect and empower people with one
experience for everything in their life in a world where it
is mobile first and cloud first.
From today onwards, the possibilities are endless. As
now, we’re one!”

Microsoft also released a press release citing that
Microsoft Nokia Devices and Services are coming
together as one to deliver a family of devices and services
that will delight consumers and empower businesses.
Microsoft CEO, Satya Nadella is quoted;
“Today we welcome the Nokia Devices and Services
business to our family. The mobile capabilities and assets
they bring will advance our transformation,Together with
our partners, we remain focused on delivering innovation
more rapidly in our mobile-first, cloud-first world.”