It might be good news for windows phone lovers that, “Microsoft and Nokia is entering into a business transaction in which Microsoft will purchase substantially all of Nokia’s Devices & Services business, license Nokia’s patents, and license and use Nokia’s mapping services.

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Microsoft will pay EUR 3.79 billion for Nokia’s cellphone division and EUR 1.65 billion to license Nokia’s patents, for a total transaction price of EUR 5.44 billion in cash.

Microsoft will also get a control of Nokia’s extensive mapping technology, including the mapping company Navteq.

This deal is expected to close in the first quarter of 2014 and is subject to approval by shareholders and regulators.

Microsoft CEO Steve Ballmer and Nokia CEO Stephen Elop wrote in a joint blog post-

“Nokia will now write its next chapter, focused on enabling mobility through its leadership in networking, mapping & location, and advanced technologies.

For Microsoft as well, today is a bold step into the future, a huge leap forward on our journey of creating a family of devices and services that delight people and empower businesses of all sizes.”

Highlight of Terms of Agreement

At closing, approximately 32,000 Nokia employees are expected to transfer to Microsoft.

Microsoft will acquire Nokia’s Smart Devices business unit, including the Lumia brand and products.

Microsoft will hold control of all Nokia’s long-term patent licensing agreement with Qualcomm, as well as other licensing agreements.

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