Microsoft acquires Nokia Devices & Services, licence patents, mapping services

theflyonthewall.com

Microsoft (MSFT) and Nokia (NOK) 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 EUR 3.79B to purchase substantially all of Nokia's Devices & Services business, and EUR 1.65B to license Nokia's patents, for a total transaction cost of EUR 5.44B in cash. Microsoft will draw upon its overseas cash resources to fund the transaction. The transaction is expected to close in 1Q14.

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