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It is officially announced by Microsoft and Nokia Corporation that Microsoft has acquired all the patents, devices, mapping services and service business of Nokia. The boards of directors of both the companies have agreed upon all the transactions. All Nokia devices are purchased by paying EUR 3.79 billion and EUR 1.65 billion are paid by Microsoft for the patents. All the transactions are to be approved by the current shareholders and regular authorities.
After the Success of the series of Windows OS based smartphone Lumia, both the companies were planning for more fast growth and innovation. Nokia is headquartered in Finland and after the success of Google's Android and iOS, the company was not getting that much popularity as it has gained in early days. So to overcome from the poor financial situation and to gain its position back, it has decided for this big investment.
This situation is favorable for both global companies as after joining Microsoft, Nokia may get its position back. This acquisition is a recreation of technology and innovation. Microsoft is happy to welcome such quality driven staff and team. Profit and opportunities are rising in a new level with this tie up.
There are various terms and conditions under which Microsoft will be owner of all devices and service business of Nokia. All the smartphones and accessories along with other units will be available under Microsoft. Approx 4,700 employees of Finland are going to be transferred to Microsoft along with 18,300 employees who are bound with manufacturing and packaging.
Its Lumia brand and other smart devices are also acquired and the license is also included in the conditions. Further patents are also going to be sustaining as per the terms. The final touch to the acquisition will be given in the starting of 2014.
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