Microsoft to buy Nokia devices and services units for $7.2B

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Microsoft has agreed to purchase Nokia’s handset business, including patents and services, for $7.2 billion. Microsoft says that the acquisition will allow it to increase its mobile marketshare more quickly. Nokia, although struggling financially, is currently the top Windows Pone 8 manufacturer and was already locked into a 5 year deal with Microsoft to produce Windows Phone handsets. The merger solidifies the companies’ partnership and supports Microsoft’s hardware ambitions.