Breaking News: Microsoft to acquire Nokia's phone business for $7.2B

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September 2, 2013 Sign up for free: Subscribe | Website | Jobs | Mobile Refer FierceWireless to a Colleague Microsoft to acquire Nokia's phone business for $7.2B Microsoft announced it will pay around $7.2 billion for Nokia's mobile phones business and a license to its patents and mapping software. Under the agreement, Microsoft will acquire more than half of Nokia's 56,000 employees and much of its Lumia smartphone and Asha feature phone business. The companies expect the deal to close in the first quarter of next year. The transaction will give Microsoft the ability to move more quickly in the mobile phone business. To date the company has worked to license its Windows Phone smartphone operating system to manufacturing companies like Nokia, HTC and Samsung. However, Microsoft's purchase of Nokia's phone business will allow it to control both the hardware and software elements of Windows Phone. Click here for full coverage.

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