Microsoft Corporation acquired Nokia Devices & Services business for EUR 5.44 billion, a transaction announced in September 2013, structured as all cash.
Nokia Devices & Services business operates in Devices (phones), is based in Espoo, Finland. Microsoft agreed to purchase substantially all of Nokia's Devices & Services business — the Mobile Phones and Smart Devices units, the Lumia and Asha brands, design teams and production facilities — plus a license to Nokia's patents and HERE mapping services, for EUR 5.44 billion in cash. About 32,000 Nokia employees were expected to transfer to Microsoft.
Builds on the 2011 Microsoft-Nokia partnership to accelerate Microsoft's share and profit in smartphones and unify Windows Phone branding.
It's a bold step into the future — a win-win for employees, shareholders and consumers of both companies.Steve Ballmer, CEO, Microsoft
Advisory firms were not disclosed for this transaction.