Microsoft Buys Nokia Mobile Business in $7 Billion Deal – WSJ.com

by | Sep 3, 2013 | News Clips | 0 comments

Microsoft Corp.  struck a $7 billion deal to acquire Nokia Corp.’s  struggling cellphone business, a bold move to try to catch up in a fast-growing mobile market that is now dominated by Samsung Electronics Co.  and Apple Inc.

The deal comes on the heels of Microsoft’s announcement that Chief Executive Steve Ballmer will retire as soon as a successor is found. As part of the deal for Nokia’s devices-and-services business, Microsoft will bring aboard 32,000 Nokia employees including CEO Stephen Elop, who is believed to be among the contenders for Mr. Ballmer’s job.

via Microsoft Buys Nokia Mobile Business in $7 Billion Deal – WSJ.com.

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