What The Nokia Acquisition Means For Finland

September 6, 2013 in Daily Bulletin

Microsoft is purchasing Nokia, the Finnish communications and IT company – or at least the parts of Nokia that most consumers are familiar with. Tim Fernholz looked at what this meant for Finland:

  • Far from being a disaster for Finland, the sale of Nokia might be a blessing in disguise. The company was a slight drag on Finland’s economy last year
  • The $7.2 billion that Microsoft is paying for it represents 2.6% of Finland’s GDP and will be a nice boost of economic stimulus.
  • Microsoft is also keeping Nokia staffers in the country and is looking to build a $250 million data center in the country.
  • With Finland now being a Microsoft research hub, the country will benefit from the expertise and become more oriented towards higher value software and IT services.

Read more about what the Nokia acquisition means here.

Source: Quartz