Nokia Stock Surges 40% on Microsoft Takeover

Microsoft Corporation is buying Nokia Corp.’s line-up of smartphones and a portfolio of patents and services in an attempt to mount a more formidable challenge to Apple Incorporated and Google Incorporated as more technological tasks get done on mobile devices instead of personal computers, The Associated Press reported recently.

The $7.2 billion deal announced late Monday marks a major step in Microsoft’s push to transform itself from a software maker into a more versatile and nimble company that delivers services on any kind of Internet-connected gadget.

Microsoft, which is based in Redmond, Wash., is being forced to evolve because people are increasingly pursuing their digital lives on smartphones and tablet computers, causing the demand for PCs to shrivel.

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