The German car industry is buying Nokia’s Here maps

Here Maps for iOS

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. As usual, such a big-money deal is subject to regulatory approval, but the acquisition is likely to go through sometime later this year.

Filed under:
,

Comments

Source: Nokia

Tags: acquisition, audi, bmw, garmin, gps, here, maps, mercedes, nokia, sale, vw

from Engadget Full RSS Feed http://ift.tt/1UhkqQ9
via www.EliteLimo.co

The post The German car industry is buying Nokia’s Here maps appeared first on Elite Limo Blog.

from Elite Limo Blog http://ift.tt/1fYWqCa
via http://ift.tt/1cgcX3j

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s