Microsoft complete acquisition of Nokia Devices & Services
Big news from the tech world as computing giant Microsoft makes a dramatic attempt to storm the devices and services market, by purchasing most of Nokia’s products and patents, for a staggering $7.2 billion.
The announcement made this morning will see up to 32,000 employees cross boarders to become part of the Microsoft company, including Nokia CEO Stephen Elop, who will now step down from his position and become Executive Vice President, Devices & Services.
Microsoft previously set up an allegiance with Nokia back in 2011, and the company plans to build on this relationship as it sees the move a way of accelerating the growth of its mobile devices via faster innovation plus numerous other qualities bought in by Nokia.
Nokia on the other hand sees the move as a way of maximizing shareholder value, and allows them now to concentrate on the other three aspects of their business: network infrastructure and services, mapping and location services, as well as technology department.
Microsoft now plans to push enhancement in the mobile industry and become a major player in the market, taking on the likes of iOS and Android products, something that Nokia have failed to do in previous years. The transaction is expected to close within the first quarter of 2014.