Microsoft to buy Nokia

[bhushan]

Corporation and Nokia Corporation today 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 & Servicesbusiness, license Nokia’s patents, and license and use Nokia’s mapping services.
Microsoft will pay EUR 3.79 billion to purchase substantially all of Nokia’s Devices & Services business,and EUR 1.65 billion to license Nokia’s patents, for a total transaction price of EUR 5.44 billion in cash.
Nokia, which will continue to make networking equipment and hold patents, was once the world's dominant handset maker but was long since overtaken by Apple and Samsung in the highly competitive market for more powerful smartphones.