Nokia sells Here maps unit for $3 billion to car makers

Nokia Here maps

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Today, Nokia sells Here maps to a consortium of German carmakers that include BMW, Audi, and Mercedes’ parent company Daimler. The final price was €2.8 billion, or just over $3 billion. According to the deal, each partner will hold an equal stake in Here and it has been agreed that none will  be allowed to get a majority interest. The deal is expected to close in the first quarter of 2016. Dieter Zetsche, Chairman of Daimler said;

“High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of Here, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries,”

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[signoff icon=”quote-circled”]”Here is laying the foundations for the next generation of mobility and location based services. For the automotive industry this is the basis for new assistance systems and ultimately fully autonomous driving. Extremely precise digital maps will be used in combination with real-time vehicle data in order to increase road safety and to facilitate innovative new products and services. On the basis of the shared raw data, all automobile manufacturers can offer their customers differentiated and brand-specific services.”[/signoff]


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