21 Jul '15, 4pm

Report: Nokia’s Sells HERE Maps For $2.7B To BMW, Mercedes, Audi Group

According to Bloomberg and CNBC Nokia has found a buyer for its HERE mapping unit. The company had sought as much as $4 billion for the platform. However the reported purchase price is roughly $2.7 billion (€2.5 billion). The winning (and perhaps only) bid was made by a German consortium of car manufacturers, which had always been reported among the interested parties. It includes BMW, Audi and Mercedes. In a way their effort to acquire the platform was defensive. The car companies use HERE Maps in their in-dash navigation systems and recognize mapping and navigation as a strategic asset for further development of self-driving cars. HERE is the rebranded NAVTEQ, which Nokia bought in 2007 for more than $8 billion. Other companies that had been rumored to be involved in the bidding for HERE included Uber (which acquired some Microsoft mapping assets) and several Chinese com...

Full article: http://searchengineland.com/report-nokias-sells-here-maps...

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