In a rather shocking way and two days before the IFA event in Berlin, Nokia has announced that Microsoft has bought the manufacturer's Devices and Services Division. 

Yes, that means all of Nokia's smartphone and feature phones are now technically owned by Microsoft. 

In an announcement made Monday, the Redmond giant will pay €3.79 billion for the devices and services department, and an additional €1.65 billion on a 10-year license to use the Finnish company's patents. 

In total, Microsoft will pay €5.44 billion in order to acquire one of the world's top companies, which was also once the largest maker of mobile phones. 

Once the deal has been completed, former Nokia CEO Stephen Elop will return to Microsoft, together with 32,000 of Nokia's employees. According to GSM Arena, the deal will take effect during the first quarter of 2014, once it has been approved by regulatory boards and departments. 

Risto Siilasmaa, will take over Nokia's CEO chores for the meantime while the Finnish manufacturer is looking for an appropriate candidate.