Microsoft Gets Nokia Units, and Leader - NYTimes.com

Ballmer's big bye-bye bet

"Microsoft said it has reached an agreement to acquire the handset and services business of Nokia for about $7.2 billion, in an audacious effort to transform Microsoft’s business for a mobile era that has largely passed it by.
[...] Since Mr. Elop plans to join Microsoft after the deal is closed, which is expected to happen in the first quarter of 2014, he resigned as chief executive and relinquished his Nokia board seat to avoid conflicts of interest. He has become a Nokia executive vice president, reporting to Mr. Siilasmaa."

Microsoft Gets Nokia Units, and Leader - NYTimes.com