Microsoft on Tuesday announced that it will pay more than $7 billion to buy all of Nokia’s devices and services business and to license Nokia’s patents as it seeks to make some headway in the mobile market. The transaction is expected to close in the first quarter of 2014 subject to approval by Nokia’s shareholders, a green light from regulators, and other conditions. The purchase is a key strategic move for Microsoft. “We run the risk that Google or Apple will foreclose our ability to innovate,” said Microsoft CEO Stever Ballmer.
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Microsoft Takes Nokia Under Its Wing
Posted by: Richard Adhikari September 3, 2013 02:26 PMMicrosoft on Tuesday announced that it will pay more than $7 billion to buy all of Nokia’s devices and services business and to license Nokia’s patents as it seeks to make some headway in the mobile market. The transaction is expected to close in the first quarter of 2014 subject to approval by Nokia’s shareholders, a green light from regulators, and other conditions. The purchase is a key strategic move for Microsoft. “We run the risk that Google or Apple will foreclose our ability to innovate,” said Microsoft CEO Stever Ballmer.