Microsoft to buy Nokia’s devices, services unit for $7.2B

Microsoft announced on Monday it will acquire Nokia’s devices and services unit in a bid to accelerate the software giant’s Windows ecosystem.

The deal is set to go ahead for about $5 billion (€3.79bn), with an additional $2.17 billion (€1.65bn) to be spent on licensing Nokia’s patents.

Boards of both companies agreed the transaction, which will see the Redmond, Wash.-based software giant purchase the Espoo, Finland-based company’s phone making unit, patents, and license and use its mapping services — via redwolf.newsvine.com