REDMOND, Washington and ESPOO, Finland – Sept. 3, 2013 – Microsoft 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 & Services business, license Nokia’s patents, and license and use Nokia’s mapping services.
Under the terms of the agreement, Microsoft will pay EUR 3.79 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. 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.
Source : Microsoft’s News, please visit the news page to read more.
Bye Bye Nokia
Yes, what this means is that in future, the phones will be named Microsoft Lumia.
Man, I don’t know how this will turn out to be. Nokia is the name that transcends time and has been with us for decades.
To suddenly be missing and with the name Microsoft – I can’t help but shiver to think that people will actually think the phone is also equivalence to OFFICE and BSOD (Blue Screen of Death).