Nokia buying NAVTEQ

The headline really does tell the whole story in this case: Finnish telecom giant Nokia has announced its intention to purchase one of the world's two digital mapping powerhouses (the other being TomTom target TeleAtlas) in an $8 billion deal that should result in some pretty sick location-based services on your next N-series phone. Nokia expects to have pulled NAVTEQ into the fold by the end of Q1 2008; all hail NokTEQ.

[Thanks, Pdexter]