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Minecraft Mining Mayhem with Mr. Mike Episode #11
Tuesday, September 3, 2013
Microsoft to Acquire Nokia's Smartphone Division
Deal valued at over $7.1 billion.
A BIG purchase indeed, but is it Microsoft's Gamble?
Microsoft today announced that it will acquire Nokia's Devices &
Services division, which includes its smartphone and mobile product
arms, for a sum of over $7.1 billion. The acquisition is expected to
close sometime in 2014, pending regulatory approval. The landmark deal
represents an aggressive expansion to Microsoft's Windows Phone efforts,
with Nokia now providing the company with an in-house smartphone
development and manufacturing infrastructure.
For over two years, Nokia has produced a series of flagship Windows
Phone devices, including the recent Lumia 1020 and Lumia 928. Nokia CEO
Stephen Elop will join Microsoft and lead an "expanded devices team."
Julie Larson-Green -- Microsoft's current overseer for Devices and
Studio Engineering, which encompasses all hardware, including Xbox --
will continue to lead the division until the acquisition is completed,
after which she will join Elop's new team. Elop will lead the new
division, including Xbox, at that time.