In a move that was only a rumor till now, Microsoft has made public, the deal to buy out all the handset business and services of Nokia. Microsoft said that it had reached an agreement to buy the devices and services of Nokia for $7.2 billion (€5.4 billion).
Microsoft also said that the deal would also carry in over 32,000 employees from Nokia to Microsoft. Stephen Elop, the current CEO of Nokia, will then rejoin Microsoft once the deal is put into action. Interestingly, he also comes in at the right time to get himself up for the race to the position of the next CEO of Microsoft; as its current CEO, Steve Ballmer is all set to resign within a year.