From DailyTech: Nokia Oyj. (HEX:NOK1V) shareholders voted this week in an overwhelming 99.7 vote among the roughly 80 percent of shareholders who voted to approve of a two-component, $7.4B USD deal to sell or license certain assets to Microsoft Corp. (MSFT).
The Financial Times -- a Pearson PLC publication (LON:PSON) -- was the first to report on the successful vote. The purchase now awaits U.S. and European regulatory approval.
The deal involves €3.79B ($5.13B USD) for Nokia's devices unit (which makes the Lumia Windows Phones, among other models) and a €1.65B ($2.23B USD) payment for permanent licensing of Nokia's patent portfolio to Microsoft (it is unclear whether this license also extends to third-party Windows Phone makers).
For Microsoft, the deal gives it a direct smartphone brand that it can use to showcase the potential of Windows Phone and better gauge the platform's shortcomings. Google Inc. (GOOG) -- the market's dominant player -- bought Motorola Mobility in late 2011 for $12.5B USD for similar "synergies".
Some might wonder why Google and Microsoft couldn't just ask third parties what they need and focus solely on software/firmware. Windows Phone product definition and design head Joe Belfiore offers an inside glimpse into why this approach is warranted commenting, "There are real-world examples of situations where Nokia was building a phone and keeping information about it secret from us. And then late in the cycle we'd find out and say, 'If we had known that we would have done this other thing differently and it would have turned out better!'"
Of course similar situations can still happen to a lesser extent, even now that Google and Microsoft have directly controlled hardware brands. But at least they have a better glimpse at the hardware side of what their third-party partners are facing.
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