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Microsoft spends $7.2B on Nokia unit

Sep 03, 2013 - The Deal Pipeline
Mergers and Acquisitions

Software giant Microsoft Corp. on Tuesday pushed ahead with a remake, buying the mobile phone activities of Nokia Corp. for Euro5.44 billion ($7.16 billion), ending an era at the iconic Finnish company and bringing a key executive back to Redmond, Wash.

Microsoft said it would pay Euro3.65 billion for Nokia's Devices & Services unit and an additional Euro1.65 billion to license related patents. Nokia CEO Stephen Elop will also follow the division to Microsoft, where he previously worked an...