Based in Espoo, Finland, it was established in 2014 following the acquisition of Nokia's Devices and Services division by Microsoft in a deal valued at €5.4 billion, which was completed in April 2014.[2] Nokia's then-CEO, Stephen Elop, joined Microsoft as president of its Devices division following the acquisition, and the acquisition was part of Steve Ballmer's strategy to turn Microsoft into a "devices and services" company. Under a 10-year licensing agreement, Microsoft Mobile held rights to sell feature phones running the S30+ platform under the Nokia brand.