You seem to be right. Here's an article [1] with details about the transaction.
The main points of the deal are:
- Microsoft pays € 5.44 Billions for all of its Devices & Services business, including the Mobile Phones and Smart Devices business units as well as an industry-leading design team, operations including all Nokia Devices & Services production facilities, Devices & Services-related sales and marketing activities, and related support functions.
- Nokia will grant Microsoft a 10 year non-exclusive license to its patents as of the time of the closing (with option to extend to perpetuity), and Microsoft will grant Nokia reciprocal rights related to HERE services.
- Microsoft will become a strategic licensee of the HERE platform, and will separately pay Nokia for a four year license.
- Microsoft has agreed to make immediately available to Nokia EUR 1.5 billion of financing in the form of three EUR 500 million tranches of convertible bonds to be issued by Nokia maturing in 5, 6 and 7 years respectively. It is at Nokia’s discretion if it chooses to draw down all or some of these tranches.
- To avoid the perception of any potential conflict of interest between now and the pending closure of the transaction, Stephen Elop will step aside as President and CEO of Nokia Corporation, resign from the Board of Directors, and will become Executive Vice President, Devices & Services
[1] http://www.efinancehub.com/nokia-corporation-adr-nysenok-doi...