The three automakers Audi, BMW and Daimler buy maps from Nokia. Why?

Audi,Nokia,BMW-business-people re-el magazine

3 August 2015

Tags:business, business news  financial news, business finance, small business websites

A consortium of three German automakers (Audi, BMW, Daimler) acquired the part of Nokia which is related to digital maps and navigation.

The value of the agreement, as announced, amounts to 2.8 bn. euros, of which 300 mil. euros are borrowings of HERE. This sale will allow Nokia to focus on the area of ​​telecommunications equipment and the completion of the acquisition of Alcatel – Lucent.
The aim of the three automakers with this move is to use the maps of HERE in order to offer enhanced experience to their customers, as they reach the point that they can build vehicles that will not need a driver to move.
Nokia has entered the market of maps in 2008 when it bought American Navteq, one of the two largest companies in the field of digital maps, for the amount of 8.1 bn. euros. This field eventually named HERE and should be mentioned that offer coverage with digital maps in almost 200 countries and in more than 50 languages. In addition, maps of HERE are behind the Bing Maps Microsoft’s used in all Windows Phones, while in general HERE supports many of the automakers, being leader in in-car navigation systems.

Tags:business, business news  financial news, business finance, small business websites




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