Nokia Buys Navteq for $8.1 Billion

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."