Microsoft Buying Nokia Handset Biz

In (another) attempt to take a bite out of Apple and Google, Microsoft is buying Nokia’s handset and services business, including a portfolio of patents, for a whopping $7.2 billion. Microsoft and Nokia first partnered in 2011, offering Lumia smartphones with Windows software, but they never succeeded in challenging iPhones and Android devices. Microsoft is expecting to net around 32,000 new employees, a third of its current workforce. While some in the tech world opined that the deal would mean the end of Nokia, investors are clearly pleased: the phone maker’s stock surged early Tuesday.