Microsoft acquires Nokia for $7.17 Billion

Citing Nokia’s extensive patent portfolio, the opportunity to enter into new markets and the flexibility with OEM’s Microsoft announces the acquisition of it’s partner Nokia. None of this comes as a surprise given Microsoft’s ambitions in the tablet space. The question remains if Nokia’s rumored “Sirius” tablet set to be announced on September 23 will go forward or become a casualty of the deal. The announcement was met with mixed reaction by Wall St. with Nokia shares soaring and Microsoft taking a hit.