Microsoft to Acquire Nokia Devices and Services Business, Finally.

OK, who won the pool? If you chose September, 2013 then claim your winnings. If you chose September 2 or September 3, 2013 then you won the jackpot.

Many saw it coming since Stephen Elop was appointed as Nokia CEO back on September 10, 2010. Microsoft is set to acquire Nokia’s devices & services business, license Nokia’s patents and mapping services. (Microsoft | Nokia)

Microsoft to Acquire Nokia

The timing is a little peculiar though, just about ten days after Steve Ballmer announced his planned retirement from being Microsoft CEO.

From the Press Release:

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.

EUR 5.44 billion equals that’s USD 7.14 billion on September 2, 2013.And that’s in cash!

For comparison, Google acquired Motorola Mobility for USD 12.5 billion in cash.

Who else would sell Windows Phone after the acquisition is completed?

Microsoft-Nokia

p.s. Nokia loses $151 million in Q2 2013 while increasing sales of its Lumia lines.

Santa Monica, CA