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Microsoft Corp To Acquire Nokia Oyj's Devices & Services business, License Nokia's Patents And Mapping Services

Monday, 2 Sep 2013 11:06pm EDT 

Microsoft Corp and Nokia Oyj announced that the boards of directors for both companies have decided to enter into a transaction whereby Microsoft will purchase substantially all of Nokia's Devices & Services business, license Nokia's patents, and license and use Nokia's mapping services. Under the terms of the agreement, Microsoft will pay EUR3.79 billion to purchase substantially all of Nokia's Devices & Services business, and EUR1.65 billion to license Nokia's patents, for a total transaction cost of EUR5.44 billion in cash. Microsoft will draw upon its overseas cash resources to fund the transaction. The transaction is expected to close in the first quarter of 2014. 

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