In a deal which is surely going to have implications in the world of technology, Microsoft has announced that it has acquired Nokia’s devices and services business for more than $7 billion in cash. It has inked a deal with Nokia to acquire “substantially all of Nokia’s Devices & Services business, license Nokia’s patents, and license and use Nokia’s mapping services.”
Microsoft will pay $5 billion for Nokia’s cell phone division and $2.18 billion to license Nokia’s patent portfolio. Microsoft will also acquire Nokia’s extensive mapping technology, including the mapping company Navteq. The deal is expected to close in the first quarter of 2014 and is subject to approval by shareholders and regulators. “Nokia will now write its next chapter, focused on enabling mobility through its leadership in networking, mapping & location, and advanced technologies For Microsoft as well, today is a bold step into the future, a huge leap forward on our journey of creating a family of devices and services that delight people and empower businesses of all sizes.” Microsoft CEO Steve Ballmer and Nokia CEO Stephen Elop in a joint blog post.
Elop will be stepping aside from his CEO role to become the Executive VP of Devices and Services at Microsoft. After this deal it seems that now Elop has solidified his position even more to become Microsoft’s visionary leader after Ballmer’s retirement.
Pocket App is multi-platform mobile solutions company. We have worked with clients from various industries and have provided them with high level and timely solutions in mobile. We feel that this move will potentially large ramifications in the technological world. It will surely make Windows Phone 8 OS more competitive in the market. If you are looking at building a Windows Phone application or on any other OS then please write to us on email@example.com and we will get back to you.