Welcome to MicroKia: Microsoft buys Nokia’s devices and services biz for $7B

In a deal that many saw coming, Microsoft just announced that it’s acquiring Nokia’s devices and services business for more than $7 billion in cash.

Microsoft will pay $5 billion for Nokia’s cellphone division and $2.18 billion to license Nokia’s patent portfolio. The deal is expected to close in the first quarter of 2014 and is subject to approval by shareholders and regulators.

“Nokia will now write its next chapter, focused on enabling mobility through its leadership in networking, mapping & location, and advanced technologies,” Microsoft CEO Steve Ballmer and Nokia CEO Stephen Elop wrote in a joint blog post. “For Microsoft as well, today is a bold step into the future, a huge leap forward on our journey of creating a family of devices and services that delight people and empower businesses of all sizes.”

The news is a good sign for Windows Phone. Now Nokia will be able to deliver killer devices with even greater support from Microsoft (though the two have been cozy since Nokia agreed to dump Symbian for Windows Phone), and it gives Microsoft a killer smartphone hardware maker of its very own.

If Google’s acquisition of Motorola Mobility begat the Moto X, a surprisingly solid and innovative Android phone, then all eyes will be on Microsoft and Nokia to deliver something as equally innovative.

Developing, refresh for updates.

via VentureBeat http://venturebeat.com/2013/09/02/welcome-to-microkia-microsoft-buys-nokias-devices-and-services-biz/

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