Latest in Acquisition

Image credit:

The German car industry is buying Nokia's Here maps

3 Shares
Share
Tweet
Share
Save

Sponsored Links

Nokia is selling its Here maps service to a group of German car makers for €2.8 billion (roughly $3.07 billion). The consortium is comprised of Mercedes' owner Daimler, BMW, and Audi. As the latter is a VW subsidiary, the buyers essentially represent the entire German car industry -- or at least all the big hitters. It was previously reported that Uber was interested in purchasing the service, but the car companies clearly brought the most attractive offer to Nokia's table.

Although Here might not be a popular mobile mapping app, it remains the in-car entertainment navigation service. Last year, Nokia said that four out of five new vehicles sold with built-in navigation were being powered by Here. New owners VW, Daimler and Mercedes all utilize the service, as have many other manufacturers, including Ford, Toyota, and aftermarket GPS companies like Garmin.

The sale will leave Nokia as a two-business company focused on network infrastructure, new technology development, software, and licensing. It still has a large portfolio of patents and also licenses its name out to other manufacturers for use in consumer electronics. As usual, such a big-money deal is subject to regulatory approval, but the acquisition is likely to go through sometime later this year.

Source: Nokia
In this article: acquisition, audi, bmw, garmin, gps, here, maps, mercedes, nokia, sale, vw
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
3 Shares
Share
Tweet
Share
Save

Popular on Engadget

Motorola is making Android TVs too

Motorola is making Android TVs too

View
Google may soon let you search with a screenshot

Google may soon let you search with a screenshot

View
US investigates escort and massage sites over human trafficking

US investigates escort and massage sites over human trafficking

View
Nissan envisions car-themed esports gaming chairs

Nissan envisions car-themed esports gaming chairs

View
AI can gauge the risk of dying from heart conditions

AI can gauge the risk of dying from heart conditions

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr