Microsoft and Nokia have just announced that 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 $ 5 billion to purchase substantially all of Nokia’s Devices & Services business, and $ 2.2 billion to license Nokia’s patents, for a total transaction price of $ 7.2 billion in cash.
Microsoft will draw upon its overseas cash resources to fund the transaction. The transaction is expected to close in the first quarter of 2014, subject to approval by Nokia’s shareholders, regulatory approvals and other closing conditions.
Nokia has outlined its expected focus upon the closing of the transaction in a separate press release published today.
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