8/3/2015

German Carmakers Buy Nokia’s Mapping Unit

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Audi, BMW and Daimler have agreed to acquire the Here digital mapping business of Finland's Nokia Corp. for €2.8 billion ($3.1 billion). Each company will gain a one-third share of Here.

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Audi, BMW and Daimler have agreed to acquire the Here digital mapping business of Finland's Nokia Corp. for €2.8 billion ($3.1 billion).

Each company will gain a one-third share of Here. The purchase is expected to be finalized in the first quarter of 2016.

Highly accurate maps are critical for self-driving-car systems. Here says its maps are accurate to as little at 10 cm (4 inches). The three Germany luxury carmakers were intent on outbidding Apple, Google and Uber for Here, largely to maintain their control over vehicle location technologies.

Nokia created Here by expanding the Navteq mapping service it acquired seven years ago.