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Microsoft Acquires Nokia for a Total of $7.1 Billion
In a recent agreement between Microsoft and Nokia, Microsoft has acquired all of Nokia’s devices and services for a solid $5 Billion. In addition to this, Microsoft also signed an agreement to license Nokia’s patents for almost $2.1 Billion.
Following the deal, about 32,000 Nokia employees are required to shift to Microsoft. This number comprises of about 4,700 Nokia employees in Finland and 18,300 employees working around the globe in various departments like production and packaging. Though Microsoft has no current plans of where to shift the work and requires, “to stay largely in place, geographically.”
Nokia’s president and CEO, Stephen Elop will join Microsoft as Nokia’s executive vice president for expanded Devices and Studios.
“Building on our successful partnership, we can now bring together the best of Microsoft’s software engineering with the best of Nokia’s product engineering, award-winning design, and global sales, marketing and manufacturing,” Elop said in a statement. “With this combination of talented people, we have the opportunity to accelerate the current momentum and cutting-edge innovation of both our smart devices and mobile phone products.”
It was also announced last month that Microsoft’s CEO; Steve Ballmer is expected to retire from his post in the months to come. The guy has been with Microsoft for over a decade and will continue to serve the corporation until the next person is found. Speaking about the agreement, Ballmer said:
“It’s a bold step into the future — a win-win for employees, shareholders and consumers of both companies. Bringing these great teams together will accelerate Microsoft’s share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services. In addition to their innovation and strength in phones at all price points, Nokia brings proven capability and talent in critical areas such as hardware design and engineering, supply chain and manufacturing management, and hardware sales, marketing and distribution.”
As for the Terry Myerson, he will keep on being the head of the novel Operating Systems Engineer Group. He is the man who manages development of Microsoft’s Xbox One, mobile devices, and all other cloud-based projects. According to Ballmer, the working relationship between Myerson and Nokia started all the way back in 2011 and will, “ensure that we do not disrupt our building momentum.”
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