German Carmakers Snap Up Nokia’s HERE Maps For $3.1 Billion

According to a report from last month, it was suggested that a group of German carmakers were close to making a deal with Nokia in which it would see them acquire Nokia’s HERE maps technology. Looks like it is official as it has been confirmed that the group which consists of BMW, Audi, and Daimler will be buying Nokia’s technology for a whopping $3.1 billion.

Given that there are three companies who are buying the technology, how would this work? Basically the technology will be shared equally amongst the three companies. If successful, it is expected that the deal will close in the first quart of 2016, but as is the case with acquisitions, regulatory bodies will have to be involved in approving it.

As for those who rely on Nokia’s HERE maps, fret not because for now it looks like nothing will change. According to the group, HERE’s management will remain independent and the technology and services will continue to operate as it is, although we expect that maybe sometime in the future things could change.

Prior to this, there were talks that other companies were interested in Nokia’s HERE maps as well. This included the likes of Uber and Baidu, and at one point there were rumors that companies such as Facebook, Google, and even Apple were considering placing a bid, but in the end it looks like the German carmakers walked away victorious.

Tyler Lee
Categories: General
Tags: Nokia