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Nokia Completes Sale of HERE Mapping Services (yle.fi)

Posted by Soulskill on from the here-is-now-there dept.

jones_supa writes: Nokia announced on Friday that it has completed the sale of its HERE digital mapping and location services business to a group of German car manufacturers made up of Audi, BMW and Daimler. The deal, which was announced in August, valued HERE at €2.8B. Based on the current estimates, Nokia banked net proceeds of €2.55B at closing, which was consistent with its earlier estimated net proceeds. The company expects to earn a profit of about €1B. The cash could come in handy during the first quarter of next year as Nokia shells out €15.6B to finalize its purchase of the French telecom giant Alcatel-Lucent. The Finnish company's shareholders rubber-stamped that deal during an extraordinary general meeting at Helsinki Ice Hall on Wednesday.

15 comments

  1. Strange Journey by Anonymous Coward · · Score: 0

    So Nokia will own Bell Labs. The home of Unix moves to the home of Angry Birds.

    1. Re:Strange Journey by Anonymous Coward · · Score: 0, Funny

      I'm sorry, did you mean:

      $ mv /home/unix /home/angry-birds

      ?

  2. self driving cars by Anonymous Coward · · Score: 0

    I had an interview for Here Berlin for a Scala position. It was incredibly difficult and I didn't get the job, but I did find out what they've doing.

    Why did auto companies buy Here? They're working on self driving cars.

    1. Re:self driving cars by Anonymous Coward · · Score: 0

      No shit, Sherlock. That's exactly what TFA says.

  3. what3words by Anonymous Coward · · Score: 0

    But will it support what3words? Of course, I couldn't be bothered to read TFA to find out.

  4. heh by Anonymous Coward · · Score: 0

    I hope with this money plus Alcatel, Nokia will be back in the phone biz. Concentrate on Firefox and Android please.

    1. Re:heh by Anonymous Coward · · Score: 0

      Being telecoms infrastructure companies, Nokia (and A-L) never was out of the phone business in the sense that none of your Samsung, Apple, LG, etc etc phones work without the 4G,3G,2G etc etc infrastructure

  5. HERE was good by Anonymous Coward · · Score: 0

    I used it in India, and it was pretty good. Did a fantastic job in places that were previously badly mapped.

    For Microsoft, it's simpler, as they just have to put in Bing Maps.

  6. Hope they keep the website working by Anonymous Coward · · Score: 0

    I find it to be the most functional "anything but Google" option for looking up directions.

    1. Re:Hope they keep the website working by Anonymous Coward · · Score: 0

      It is also the only map service currently available for the Ubuntu phone. I wonder what will happen now.

  7. shareholders rubber-stamped that deal by quenda · · Score: 1

    Do we have to have the rubber jokes on every Nokia story?
    OK, bet they wished they'd worn one when they got into bed with Microsoft.

  8. Their new slogan by Shirley+Marquez · · Score: 1

    NOKIA: There's no Here here.