Nokia Buys Alcatel-Lucent for $16.6 billion
Ahead of Huawei and Ericsson, Nokia is soon to be the biggest maker of telecom equipment in the world, as it has just acquired Alcatel-Lucent for $16.6 billion, the French Telecom equipment maker. This is over double Microsoft paid for its Windows Phone arm for $7 billion. They have even acquired Alcatel-Lucent’s famous Bell Laboratories, that were established in 1880 by Alexander Graham Bell. The merged businesses will run under the Nokia banner, though Bell Labs won’t be changing their name. It said, “the combined company will be in position to accelerate development of future technologies including 5G… as well as sensors and imaging. ” The merged business will have its headquarters in Finland, and France will stay “a vibrant centre of the combined company.” Nokia have also said that if the price was right they would sell off its Here Mapping Devision to focus on the network of the business. The deal is to close in 2016.