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September 3, 2013 07:29 am GMT

Microsoft Enters Into $7.2B Deal To Buy Nokia's Devices And Services Business And License Its Patents

ms-nokiaIn a surprise move, Microsoft announced Monday evening that it has inked a deal with Nokia to acquire "substantially all of Nokias Devices & Services business, license Nokias patents, and license and use Nokias mapping services." The total price of the deal is EUR 5.44 billion in cash, which is currently worth $7.17 billion in U.S. dollars. The Devices and Services business acquisition accounts for EUR 3.79 billion of that, with the patent licensing deal making up the remaining EUR 1.65 billion.

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