Microsoft announced on Monday evening US time that it will acquire most of Nokia's mobile phone business at a price of 3.79 billion euros (about 5 billion U.S. dollars), and another 1.65 billion euros (about 2.18 billion U.S. dollars) to purchase Nokia's patent licenses. Therefore, the total price of this transaction is approximately 5.44 billion euros (about 7.17 billion US dollars).
Once the deal is concluded, many Nokia executives will join Microsoft, including Elop. Microsoft will use a large amount of overseas cash reserves to complete this transaction. After the transaction is completed, about 32,000 employees will join Microsoft, of which 4,700 are Finnish employees.
Elop, a former Microsoft executive, was once considered to be one of the most promising candidates to succeed Microsoft CEO Ballmer. Nokia executives who will join Microsoft because of this transaction include: JoHarlow, global executive vice president, Juha Putkiranta, executive vice president of operations, and TImoToikkanen, executive vice president of mobile phones. And Chris Weber, executive vice president of sales and marketing.
Elop will give up the CEO position and temporarily serve as the executive vice president of the equipment and services department; Nokia Chairman Risto Siilasmaa (Risto Siilasmaa) will serve as interim CEO.
This transaction is an obvious signal that Microsoft believes that it can and must succeed in the mobile phone field, and it cannot hand over this success to its partners, even Nokia, who is completely betting its life on Microsoft WP mobile software. No exception.
For Nokia, although the company sold its most well-known business to Microsoft, it will still focus on the production of cellular network equipment, location services Here and some other advanced technologies. These remaining businesses accounted for half of the company's revenue in 2012.
The following is an open letter from Microsoft CEO Steve Ballmer and Nokia President and CEO Stephen Allop:
Both Nokia and Microsoft have great dreams – we had dreamed that everyone should have a computer on the table and a mobile phone in everyone's pocket. After our long-term unremitting efforts, these dreams have gradually become reality.
Today marks a new moment of innovation.
Nokia has 150 years of heritage, innovation, excellence and continuous innovation. The DNA of this transformation has started in Finland and continues to develop and spread all over the world. From the initial paper mill to the production of rubber shoes and tires, and then to mobile phones, the spirit of innovation is in the blood of Nokia.
Nokia will write a new chapter to continue its network, map and location in the mobile field, as well as innovations in cutting-edge technology.
The same is true of Microsoft. Today is a brave step into the future, a big leap forward in our new journey: creating a series of devices and services to delight consumers and help large and small businesses.
In our partnership over the past two and a half years, the two parties have built a new global mobile ecosystem with their strengths and achieved remarkable results: through award-winning mobile phones and excellent mobile applications and services, Nokia ’s Windows Phones Become the fastest growing smart terminal in the world.
On the basis of this successful cooperation, we announced today important news: Microsoft intends to acquire Nokia ’s equipment and services business to provide customers with more choices, faster innovation and more amazing equipment and services.
This will accelerate the development momentum of Nokia's equipment and services business, bring more people to the world's most innovative smartphones, and continue to connect billions of users through Nokia's rich feature phone products.
Microsoft's commitment and resources will drive Nokia's device and service business forward. We can now realize the great potential of the Windows ecosystem and bring the most perfect mobile experience to people's work and life.
We will continue to produce your favorite mobile phones while investing in the future — new mobile phones and new services that incorporate the best of Microsoft and Nokia resources.
Both Nokia and Microsoft will devote their full efforts to this new chapter.
We will work together to rewrite the boundaries of the mobile field.
Elop and Ballmer
The transaction is expected to be completed in the first quarter of 2014, subject to approval by Nokia shareholders and relevant agencies.
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