10 Tech Things You Need To Know This Morning

Ellis Hamburger, Business Insider

We're only a few days into September and some big tech news has already dropped. 

• Microsoft is buying Nokia's smart phone business for $7 billion. It's paying 3.70 billion Euros for the devices and services division, which produces some of the best-selling Windows phones like the Lumia 920, 925, and 1020. Microsoft is also paying 1.65 billion Euro ($2.2 billion U.S.) for the rights to Nokia's patents.

• Stephen Elop, the CEO of Nokia, will be coming over to Microsoft as part of the $7 billion acquisition. Will he replace Steve Ballmer as Microsoft's CEO? That's yet to be determined. The deal was in place before Ballmer announced his retirement. 

• The Microsoft-Nokia deal took multiple months and more than 50 Nokia board meetings to get done. 

• The new iPhone 5C and its packaging may look like this.

• Marissa Mayer may have just purchased this $30 million home in San Francisco. 

• Rakuten has acquired a premium video site, Viki, for $200 million. Viki had talks with Google and Yahoo before selling itself to Rakuten. 

• A photo of Samsung's smart watch, Galaxy Gear, has leaked. The device will be revealed by Samsung tomorrow.

• LG announced an iPad mini rival, the G Pad. It will be available in time for the holidays.

• Verizon is buying out Vodafone's 45% stake in Verizon Wireless for $130 billion. 

• An unhappy British Airways customer purchased promoted tweets to bash the airline.