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 Finish 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.”
Source: Techloy
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