Nokia will officially become a part of Microsoft. For $7.2 billion, the struggling smartphone company’s devices and services business will be acquired by the software giant in a move for both to keep up with the mobile computing revolution.
Exactly what will Microsoft get from Nokia? The purchase specifically covers the Lumia brand of smartphones. And it’s not just the phone and branding, but also the people behind them. Even the feature phones business is included, which means Nokia’s Asha budget line of cellphones will also be under Microsoft’s control. Also heading back to Microsoft is Nokia’s former CEO Stephen Elop, who used to work for the software company as the head of the Business Division (the one that handles the Microsoft Office productivity suite and Microsoft Dynamics enterprise resource planning apps).
The acquisition, according to Microsoft, will allow for “faster innovation, increased synergies, and unified branding and marketing.”