It's more than that. Microsoft is acquiring the Lumia brand. This gives them the ability to bundle both hardware and software to create one simple, cohesive experience. They will no longer be pushing the Nokia Lumia with Windows Phone 8, but The Microsoft Phone. And they can now brag about how they are the smartphone with the best camera. From a marketing perspective, this makes lots of sense.

Lots of that is speculation on what I hope Microsoft does with this, namely adopting Apple's marketing simplicity and control of the user experience.