Microsoft to buy Nokia's devices and services unit for 7.2 billion dollars. The part of the company that they are buying accounted for 50% of NOK's revenue. Elop is stepping down as CEO to become VO of devices and transition to Microsoft.
I wonder wonder wonder who the next CEO of Microsoft will be....
Thoughts in the deal? I think it greatly undervalues the devices part of the company, however as a shareholder I am hoping that this deal will unlock some further value for shareholders.
http://www.microsoft.com/en-us/news/press/2013/Sep13/09-02AnnouncementP…
microsoft sucks at making hardware products. wonder if this time around will be better now that ballmer reorganized microsoft's divisions.
It will provably get much better after Ballmer leaves.
Ballmer reminds me of the captain of the Costa Concordia.. crash the ship, swim to shore before she goes down, deny any responsibility. Wait, here's a better idea - promote the guy responsible for the demise of the once-largest handset maker in the world to your job, that way when the business inevitably takes the inevitable $7.2 bil impairment hit, you've already cashed out your equity. Genius.
These guys are all about finance. Ballmer's idea was to increase MS's profitability, which he did. The guy doesn't give half a shit about "quality," "vision," or anything that really defines an iconic brand or product. Their idea is "whatever sells, sells," and that way of thinking is very pronounced in the company's culture and the type of products it releases.
On the topic of this acquisition: I think it's very reminiscent of Google's Motorola purchase. I think that Microsoft has been playing catch-up for too long, though. It's about time that someone over there decided to - shocker - innovate. Since Bill Gates' departure, the company has yet to release a single new product. Everything has been, "the new Product," whether that product is Windows, XBox, Windows Mobile, or Office. It's about time that the company did something that's actually new, and not something that is an obvious, desperate attempt to take market share from competitors.
With Microsoft backing a huge hardware manufacturer (in a more official capactiy than 'software support' or whatever bs microsoft called it before when they essentially paid nokia to support Windows phones), I think developers will be more inclined to support Windows phones, which has the been the biggest issue for MS phones/developing an ecosystem.
MS is trading a shitty CEO... for an even worse one.
Guys. What are you THINKING?
Does anyone know who advised on this transaction?
Bump. Additionaly, the size of the commission?
Lists the advisors in this article: http://www.bloomberg.com/news/2013-09-03/microsoft-to-buy-nokia-s-devic…
Not bad, JPM has also been on the Verizon deal afaik.
I might as well just take my MSFT shares and flush them down the toilet.
Anyone else find it funny how this Nokia division is valued the same as the web-cam software Microsoft bought?
Saw this on Google+ today. Here's why this acquisition is a total non-event:
haha, good find!
My sentiments exactly, the OS no one wants to use hooks up with the phone no one wants to buy. What a match made in heaven.
I guess someone really did their market research there ;)
Most expensive acqui-hire ever?
I think it's quite stupid how Wall Street fellates Steve Jobs and Apple
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