Microsoft Digs Into Mobile With $7.2B Nokia Handset Unit Buy

Law360, New York (September 3, 2013, 11:40 AM EDT) -- Microsoft Corp. will pay €5.44 billion ($7.2 billion) for the handset and services businesses of sputtering Nokia Corp. along with related patents, giving the tech giant a mobile industry toehold as it reshapes itself to better compete with rivals, it said late Monday.

Under the transaction's terms, Microsoft agreed to fork over €3.79 billion for the Nokia units, which include smartphone operations, and another €1.65 billion for related patents. The Washington-based company said it would cover its purchase using overseas cash reserves.

The deal cements an...
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