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Nokia Buys Navteq for $8.1 Billion

Posted by ryuzaki0 on from the better-to-track-you-with-my-dear dept.

mytrip writes to mention that Nokia has agreed to buy Navteq, Chicago-based maker of digital mapping and navigational software, for $8.1 billion. "Nokia's president and chief executive, Olli-Pekka Kallasvuo, said that location-based services were a cornerstone of Nokia's Internet services strategy, which is part of an overall plan to expand beyond the production of cellphones into user services like photos, video, music and games."

2 of 77 comments (clear)

  1. The press release, Tele Atlas and more by Lord+Satri · · Score: 4, Informative

    Here's the official press release. There's additional articles on Bloomberg and TradingMarkets.

    This news was predicted after TomTom bought Tele Atlas last July, NAVTEQ's main competitor.

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    Animoog.org
  2. Re:Google Maps et al affected? by 2ms · · Score: 5, Informative

    Google acquiring Nokia? That's a laughable notion at best. Nokia is the largest wireless network hardware and phone company in the world. Some would say they're sitting on top of the biggest goldmine there is in tech or least consumer electronics. And they only seem to big extending the gap with their competitors more and more (look at Motorola's last quarter vs Nokia's). For Americans here who don't know, by the way, Nokia is far and away the largest builder of the networks wireless services are provided by -- phones are only the smaller part of their business, yet they are the largest phone maker in the world too.